Biopharmaceutical Firm DICE Therapeutics Prices Upsized US$204 Million IPO

Biopharmaceutical company DICE Therapeutics, Inc. (Nasdaq: DICE) started publicly trading on the Nasdaq Global Market yesterday under the symbol “DICE”. The firm’s initial public offering is looking to raise US$204.0 million and is expected to close on September 17, 2021.

The offering will be conducted through the issuance of 12.0 million common shares selling at US$17.00 per share. This is an adjustment from the company’s original plan to issue 10.0 million shares with share price expectations between US$15.00 and US$17.00.

The company granted the underwriters a 30-day over-allotment option to purchase additional 1.8 million common shares at the same IPO price, potentially bringing proceeds up to US$82.8 million. BofA Securities, SVB Leerink, and Evercore ISI are all acting as joint bookrunners for the said offering.

The California-based biotech firm is in the business of developing immunotherapies for patients with chronic diseases. Currently, the firm’s lead therapeutic candidate S011806 is an oral antagonist targeting a pro-inflammatory signaling molecule connected with a variety of immunology indications. The orally-available candidate is expected to enter its phase 1 trial in the second half of 2021.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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