Biopharmaceutical company HilleVax, Inc. (Nasdaq: HLVX) began trading on the Nasdaq Global Select Market on Friday. The firm’s initial public offering is looking to raise US$200.0 million and is expected to close on May 3, 2022.
The offering consists of 11.8 million common shares selling at US$17.00 per share.
J.P. Morgan, SVB Securities, Stifel, and Guggenheim Securities act as the joint bookrunners for the said offering. The underwriters were granted a 30-day over-allotment option to purchase additional 1,764,750 shares at the same IPO price.
The Boston-based biotech company is focused on developing and commercializing novel vaccines. Its lead candidate, virus-like particle-based vaccine HIL-214, is being developed as a potential prevention of moderate-to-severe acute gastroenteritis caused by norovirus infection.
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