Biotech Firm PepGen Prices US$108 Million IPO
Biopharmaceutical company PepGen, Inc. (Nasdaq: PEPG) began trading on the Nasdaq Global Select Market on Friday. The firm’s initial public offering is looking to raise US$108.0 million and is expected to close on May 10, 2022.
The offering consists of 9.0 million common shares selling at US$12.00 per share.
BofA Securities, SVB Securities, and Stifel act as the joint bookrunners for the said offering. The underwriters were granted a 30-day over-allotment option to purchase additional 1.35 million shares at the same IPO price.
The Boston-based biotech company is working on oligonucleotide therapies for the treatment of severe neuromuscular and neurological diseases. Its focus revolves around Enhanced Deliver Oligonucleotide platform, which mainly leverages cell-penetrating peptides to improve the uptake and activity of conjugated oligonucleotide therapeutics.
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