An initial public offering (IPO) is the process by which a privately held company offers its shares to the public for the first time, allowing it to become a publicly traded company. In the biotech industry, a biotech IPO refers to a specific case where a biotechnology company goes public and lists its shares on a stock exchange. This enables the company to raise funds from public investors. Successful biotech IPOs in 2024 have the potential to generate substantial returns for early investors and provide the crucial capital required for biotech firms to sustain and advance their research and development endeavors.
Related: Biotech IPOs in 2023: Shaping the Future of Innovation
Here are the biotech IPOs in 2024 that have made it to Wall Street so far:
Gelteq
IPO Date: October 29, 2024
Initial IPO Price: $4.00
Price on November 14, 2024: $1.62
Gelteq Limited, a biotech company specializing in ingestible gel delivery technologies, recently launched its IPO, generating $5.2 million in gross proceeds. The IPO was priced at $4.00 per share, comprising 1,300,000 shares, which began trading on the Nasdaq Global Market under the ticker “GELS” on October 29, 2024.
Gelteq’s core technology is a proprietary gel platform that offers tailored drug delivery solutions for applications across pharmaceuticals, nutraceuticals, pet care, and sports supplements. The platform’s stable gel matrix can encapsulate various ingredients, supporting controlled release, improved bioavailability, and an enhanced user experience.
The company’s formulations enable delivery of active compounds like branched-chain amino acids, protein, caffeine, and essential minerals, which makes them suitable for uses in sports performance, nutrition, and therapeutic settings.
Gelteq’s gels address common challenges in medication adherence, improving taste, lowering choking hazards, and making swallowing easier — particularly beneficial for individuals with dysphagia, children, and older adults with specific dietary or swallowing requirements.
Further, Gelteq’s technology customizes ingredient release profiles along the gastrointestinal tract, optimizing absorption and targeting specific areas based on each ingredient’s properties.
To meet increasing demand, Gelteq is enhancing its production capabilities with a Good Manufacturing Practice (GMP)-certified facility, anticipated to be fully operational by 2025.
In the pharmaceutical sector, Gelteq is progressing its lead product — a gel-based pain management solution — through the US Food and Drug Administration’s (FDA) 505(b)(2) pathway, utilizing bioequivalence studies for quicker approval and positioning the gel as an alternative to conventional oral dosage forms. The platform’s flexibility allows for multi-ingredient and high-dosage formulations, accommodating both lipid and non-lipid components in a user-friendly format.
Backed by a growing patent portfolio and collaborations in human and animal health, Gelteq is advancing its goal of improving therapeutic outcomes and patient compliance across various health markets.
Polyrizon
IPO Date: October 29, 2024
Initial IPO Price: $4.38
Price on November 14, 2024: $0.94
Biotech company Polyrizon Ltd., known for its expertise in medical device hydrogels, recently completed its IPO, securing $4.2 million in gross proceeds. The IPO was priced at $4.38 per unit, comprising 958,903 units, each containing one ordinary share and three warrants for additional share purchases at a per-share exercise price of $4.38. Trading began on October 29, 2024, on the Nasdaq Capital Market, under the ticker symbol “PLRZ.”
The funds raised from the IPO will support the preclinical and clinical advancement of Polyrizon’s novel hydrogel product candidates, facilitating research and development (R&D) activities. Additional allocations include working capital, possible future acquisitions, and repayment of specific outstanding debts.
Polyrizon Ltd. is pioneering innovative nasal spray-based hydrogel technologies through two unique platforms: Capture and Contain (C&C) and Trap and Target (T&T).
The C&C platform functions as a “biological mask,” forming a protective hydrogel barrier in the nasal passage to block viruses and allergens. Its primary candidate, PL-14, which addresses nasal allergies, is slated for FDA submission via the 510(k) pathway. Preclinical trials are projected to start in the second quarter of 2025, followed by pivotal trials toward the end of the year.
Two additional C&C candidates, PL-15 and PL-16, are focused on COVID-19 and influenza prevention and are expected to proceed toward De Novo classification, with clinical trials projected beyond 2025.
Polyrizon’s T&T platform offers a different solution, aiming at the intranasal delivery of active pharmaceutical ingredients (APIs) with extended release, targeting potential uses in central nervous system (CNS) treatments, opioid overdose response, and allergic rhinitis. Early testing for this platform is planned from late 2024 to early 2026, with further preclinical and Phase I trials contingent on additional funding.
Polyrizon’s R&D initiatives are bolstered by strategic partnerships. Its agreement with SciSparc grants Polyrizon exclusive rights to the SCI-160 platform, enabling non-opioid pain treatment development with milestone-linked royalties. Additionally, a collaboration with NurExone supports the development of an intranasal delivery system for exosome-based therapies aimed at treating spinal cord injuries, with potential expansion to other neurological applications.
Septerna
IPO Date: October 25, 2024
Initial IPO Price: $18.00
Price on November 14, 2024: $23.42
Septerna, Inc., a clinical-stage biotech company focused on developing therapies based on G protein-coupled receptors (GPCRs), has reached a major milestone by completing its IPO. The South San Francisco company is known for its cutting-edge approach to GPCR drug discovery, utilizing its proprietary Native Complex Platform to build a strong portfolio targeting key areas like endocrinology, immunology, inflammation and metabolic diseases.
Septerna’s IPO led to the issuance of 18.4 million shares at $18.00 each, including an additional 2.4 million shares acquired by underwriters exercising their option in full. The IPO raised $331.2 million in gross proceeds before deducting underwriting discounts, commissions and other related expenses. Shares of Septerna began trading on the Nasdaq Global Market (under the ticker SEPN) on October 25, 2024, with the IPO officially closing on October 30, 2024.
This funding boost will help drive Septerna’s pipeline forward and support clinical studies in its primary therapeutic areas. With GPCR-targeted therapies addressing critical medical challenges, Septerna is strategically positioned for impact in the industry.
The company’s leading program, SEP-786, addresses hypoparathyroidism, a rare disorder affecting roughly 70,000 people in the US that can lead to severe issues such as seizures and heart complications. SEP-786 is an oral parathyroid hormone 1 receptor (PTH1R) agonist aiming to restore mineral balance, with Phase I trial results expected by mid-2025.
Septerna’s SEP-631 is being developed for chronic spontaneous urticaria, a painful inflammatory skin condition impacting 1.5 million people in the U.S. This selective mas-related G-protein coupled receptor member X2 (MRGPRX2) inhibitor works by modulating mast cell activity, with regulatory submissions for trial initiation expected soon.
Septerna’s thyroid-stimulating hormone receptor (TSHR) modulators target Graves’ disease and thyroid eye disease, both of which require significant treatment. The company’s TSHR modulators could offer a disease-modifying oral therapy, with lead compounds advancing toward clinical candidate selection.
Septerna’s pipeline also includes incretin programs aimed at addressing obesity and type 2 diabetes, which affect over 800 million people globally. Through oral agonists for glucagon-like peptide-1 (GLP-1), gastric inhibitory polypeptide (GIP) and glucagon receptors, Septerna’s approach may overcome some limitations of current injectable treatments, with key compounds nearing the development candidate stage.
Septerna’s IPO success underscores investor confidence in its scientific vision and potential to innovate small molecule therapeutics, advancing treatments for complex medical conditions.
Upstream Bio
IPO Date: October 11, 2024
Initial IPO Price: $17.00
Price on November 14, 2024: $26.13
Upstream Bio recently closed its upsized IPO, raising approximately $293 million after the underwriters exercised their option to purchase an additional 2,250,000 shares. The offering comprised 17,250,000 shares of common stock at $17 per share, and the stock began trading on the Nasdaq Global Select Market on October 11, 2024, under the ticker “UPB.” Proceeds from the IPO will support Upstream Bio’s development of innovative therapies for inflammatory diseases, particularly severe respiratory disorders.
Upstream Bio is advancing verekitug, its lead monoclonal antibody targeting the receptor for thymic stromal lymphopoietin (TSLP), into clinical trials for severe respiratory disorders. Verekitug is the only known TSLP receptor antagonist in clinical development, designed to inhibit TSLP’s upstream inflammatory effects. The company has already completed three Phase I trials, showing promising pharmacokinetics and safety data. Verekitug’s Phase Ib results demonstrated rapid, sustained receptor occupancy and significant reductions in key biomarkers like fractional exhaled nitric oxide and eosinophil levels in asthma patients.
Currently, two Phase II trials are underway — one for severe asthma and the other for chronic rhinosinusitis with nasal polyps (CRSwNP). Both trials aim to evaluate 12- and 24-week dosing intervals, potentially allowing for less frequent dosing compared to current biologics. Results from the CRSwNP trial are expected in late 2025, with asthma trial data anticipated in the second half of 2026. Additionally, Upstream plans to initiate a Phase II clinical trial for chronic obstructive pulmonary disease (COPD) in late 2025.
Beyond these, Upstream plans to leverage verekitug’s attributes for other TSLP-driven diseases, exploring its potential across multiple inflammatory conditions. Strategic collaborations and potential acquisitions are expected to position the company to address unmet needs in respiratory care.
CAMP4 Therapeutics Corporation
IPO Date: October 10, 2024
Initial IPO Price: $11.00
Price on November 14, 2024: $10.25
CAMP4 Therapeutics, a clinical-stage biopharmaceutical company, recently priced its IPO at $11.00 per share, generating approximately $75 million in gross proceeds. CAMP4 is focused on developing regulatory RNA-based therapeutics that upregulate gene expression to restore healthy protein levels. Their RNA Actuating Platform (RAP) identifies regulatory RNA sequences that control protein-coding genes, allowing CAMP4 to create antisense oligonucleotide therapeutics to modulate gene expression.
On October 1, 2024, CAMP4 entered into a strategic research collaboration with BioMarin Pharmaceutical Inc. to advance novel therapeutics for rare genetic conditions. This collaboration combines CAMP4’s target discovery capabilities with BioMarin’s expertise in genetic medicines, with BioMarin having the right to select two targets from CAMP4’s RAP platform to move into clinical development.
The company’s lead product candidate, CMP-CPS-001, is designed to treat urea cycle disorders by increasing the expression of CPS1, a key enzyme in the urea cycle. It is currently undergoing Phase I clinical trials, with data from the single ascending dose (SAD) portion expected in the first quarter of 2025, and multiple ascending dose (MAD) data anticipated in the second half of 2025. CMP-CPS-001 has also received Rare Pediatric Disease and Orphan Drug designations from the US Food and Drug Administration (FDA), signaling potential market exclusivity and regulatory support.
In addition to CMP-CPS-001, CAMP4 is advancing its CMP-SYNGAP program targeting SYNGAP1-related neurodevelopmental disorders, which cause cognitive impairment and epilepsy. Preclinical results were promising, and the company plans to initiate Good Laboratory Practice (GLP) toxicology studies in 2025.
Looking ahead, CAMP4 intends to form more strategic partnerships to maximize the value of its RAP platform and expand its pipeline to address metabolic and central nervous system (CNS) diseases. The funds from the IPO will be used to advance clinical trials, expand the RAP platform and support future product development initiatives.
BioAge Labs, Inc.
IPO Date: September 26, 2024
Initial IPO Price: $18.00
Price on November 14, 2024: $20.16
BioAge Labs, Inc., a clinical-stage biopharmaceutical company, recently priced its upsized IPO of 11,000,000 shares at $18.00 each, raising $198.0 million before deducting expenses. Underwriters were granted a 30-day option to buy an additional 1,650,000 shares. The stock began trading on the Nasdaq Global Select Market under the ticker “BIOA” on September 26, 2024.
On October 1, 2024, BioAge confirmed the closing of the upsized IPO, including the full exercise of the underwriters’ option, totaling 12,650,000 shares. Additionally, BioAge closed a concurrent private placement on September 27, selling 588,888 shares to an existing stockholder. The combined gross proceeds from the IPO, underwriters’ option and private placement amounted to approximately $238.3 million.
BioAge’s investigational oral drug, azelaprag, is a small molecule agonist of the apelin receptor (APJ), designed to replicate exercise benefits. In preclinical obesity models, azelaprag more than doubled weight loss when combined with glucagon-like peptide-1 (GLP-1) receptor agonists. Phase Ib clinical trials demonstrated reduced muscle atrophy and improved metabolism in older adults.
Currently, BioAge is running two Phase II trials: the ongoing Study to Evaluate the Reduction of Insulin-Related Disorders and Enhance Satiety (STRIDES) trial with tirzepatide, with results expected in the third quarter of 2025, and a trial with semaglutide, set to start in the first half of 2025, with topline results anticipated in the second half of 2026. An insulin sensitivity proof-of-concept trial with azelaprag monotherapy is also planned for the first half of 2025.
The company pipeline also includes brain-penetrating nucleotide-binding domain and leucine-rich repeat protein 3 (NLRP3) inhibitors targeting neuroinflammatory diseases. An Investigational New Drug (IND) application for one such NLRP3 inhibitor has been planned for the second half of 2025 and likely, a Phase I trial in the first half of 2026.
Kairos Pharma
IPO Date: September 16, 2024
Initial IPO Price: $4.00
Price on November 14, 2024: $2.06
Kairos Pharma successfully closed its IPO on September 17, 2024, raising $6.2 million through the sale of 1,550,000 shares at $4.00 per share. Trading began on the NYSE American under the symbol “KAPA” on September 16, 2024. Underwriters were granted a 45-day option to purchase an additional 232,500 shares. With net proceeds estimated at $5.76 million, the company plans to advance its robust oncology pipeline, which targets immune suppression and drug resistance in cancers.
At the forefront of Kairos’ development efforts is ENV 105, a therapeutic antibody currently in Phase I trials for lung cancer and Phase II trials for prostate cancer. ENV 105 specifically targets CD105, a molecule that becomes upregulated in tumors resistant to standard therapies, including androgen receptor inhibitors and EGFR-targeted drugs. Early trials demonstrated a promising clinical benefit rate of 62 percent in heavily pre-treated prostate cancer patients.
Preclinical candidates include the KROS portfolio, with KROS 101 and 102 targeting glucocorticoid-induced tumor necrosis factor receptor (GITR)ligands to modulate T cell activity and function, and KROS 201, an autologous T cell therapy designed to eliminate glioblastoma cancer stem cells.
Kairos received a $3.2 million grant from the National Cancer Institute to support the development of ENV 105. This funding will be used for companion biomarker research in prostate cancer, helping identify patients most likely to benefit from the therapy.
Other products in development include ENV 205, which targets mitochondrial DNA to reverse chemotherapy resistance, and KROS 301, a small molecule aimed at inhibiting the nuclear factor-kappa B (NF-ĸβ) pathway, which has been found to promote tumor growth and resistance to therapies, in triple-negative breast cancer.
The IPO proceeds will support these ongoing trials, pipeline expansions and preclinical studies, solidifying Kairos’ commitment to addressing critical unmet needs in oncology.
Impact BioMedical
IPO Date: September 16, 2024
Initial IPO Price: $3.00
Price on November 14, 2024: $2.75
Impact BioMedical Inc. completed its IPO on September 17, 2024, after debuting on the NYSE American the previous day. The company offered 1.5 million shares priced at $3.00 per share, with Revere Securities, LLC as the lead underwriter. The IPO included a 45-day option for underwriters to acquire an additional 225,000 shares. In connection with the offering, Impact issued warrants for the purchase of up to 75,000 shares at an exercise price of $3.75 per share, with the potential to extend to 86,250 shares if the overallotment option is exercised.
Impact BioMedical is advancing an array of cutting-edge technologies through its subsidiaries. At the forefront is its Linebacker platform, a series of polyphenol-based compounds designed to target oncology, inflammation and neurological disorders. These compounds, derived from natural sources like berries and nuts, have demonstrated the potential to inhibit PIM kinase, a driver of several cancers. Linebacker-1 and Linebacker-2 have been licensed to ProPhase Laboratories for global development, creating opportunities for future milestone and royalty payments.
Another notable product is Laetose, a sugar substitute that lowers caloric intake and glycemic response while also inhibiting tumor necrosis factor alpha. Impact BioMedical is exploring partnerships to advance Laetose’s applications in consumer markets and biopharmaceuticals.
The company also collaborates with Chemia Corporation to develop 3F, a fragrance technology with antimicrobial properties that could be used in insect repellents, detergents and more. Equivir, a blend of polyphenols with antiviral effects, is licensed to ProPhase Laboratories, with potential applications in upper respiratory wellness and beyond.
These innovative offerings, paired with strategic partnerships and licensing agreements, could propel Impact BioMedical’s efforts to develop next-generation wellness and biopharmaceutical solutions.
Zenas BioPharma
IPO Date: September 13, 2024
Initial IPO Price: $17.00
Price on November 14, 2024: $19.37
Zenas BioPharma launched its IPO, pricing 13,235,294 shares at $17 per share, aiming to raise approximately $225 million in gross proceeds. The company is listed on the Nasdaq Global Select Market under the ticker symbol “ZBIO,” with the IPO closing on September 16, 2024. On September 19, 2024, the underwriters fully exercised their option to purchase an additional 1,985,294 shares at the initial offering price, bringing the total to 15,220,588 shares sold and raising gross proceeds of $258.7 million.
Notably, Zenas’ current market cap stands at $715 million which could indicate strong investor confidence in its immunology therapies.
As an emerging growth company, the funds will be directed toward advancing its pipeline of transformative immunology therapies. Their lead product, obexelimab, a bifunctional monoclonal antibody, is designed to inhibit B cells without depleting them, holding promise in autoimmune disease treatment.
Zenas is advancing multiple clinical trials, including a Phase III trial for immunoglobulin G4-related disease (IgG4-RD), which is currently enrolling patients globally. Obexelimab is also being tested in a Phase II/III trial for warm autoimmune hemolytic anemia (wAIHA), and Phase II trials are underway for multiple sclerosis (MS) and systemic lupus erythematosus (SLE). Additionally, Zenas is developing two global programs — ZB002 (an anti-TNFα monoclonal antibody) and ZB004 (a CTLA-4-Ig fusion) — along with regional programs ZB001 and ZB005, targeting various inflammatory and autoimmune conditions. The IPO will accelerate trial progress and expand Zenas’ pipeline toward commercialization.
Bicara Therapeutics
IPO Date: September 12, 2024
Initial IPO Price: $18.00
Price on November 14, 2024: $22.45
Bicara Therapeutics Inc., a clinical-stage biopharmaceutical company advancing bifunctional therapies for solid tumors, announced the pricing of its IPO on September 12, 2024. Offering 17,500,000 shares at $18.00 per share, the company raised approximately $315 million. Following the full exercise of underwriters’ options, the IPO closed on September 16, 2024, with a total of 20,125,000 shares sold, pushing gross proceeds to $362 million.
Bicara’s lead asset, ficerafusp alfa, is a bifunctional antibody designed to target both epidermal growth factor receptor (EGFR) and transforming growth factor beta (TGF-β). This dual mechanism holds promise in treating various solid tumors by inhibiting tumor growth while reducing the immunosuppressive environment in the tumor microenvironment.
Early clinical results have been compelling, particularly in head and neck squamous cell carcinoma (HNSCC), where ficerafusp alfa combined with pembrolizumab achieved a 54 percent overall response rate (ORR), and an even higher 64 percent ORR in human papillomavirus (HPV)-negative patients.
With these promising data, Bicara plans to launch a pivotal Phase II/III trial by late 2024 or early 2025, testing ficerafusp alfa combined with pembrolizumab as a first-line treatment for recurrent/metastatic HNSCC. The company is also exploring the drug’s potential in other EGFR-expressing solid tumors like colorectal cancer and cutaneous squamous cell carcinoma.
Bicara’s bifunctional approach aims to provide longer-lasting responses and improved survival outcomes for patients with few treatment options. Funds from the IPO will support ongoing clinical trials and future pipeline expansion, helping Bicara potentially bring new treatment options to cancer patients who currently have limited alternatives.
MBX Biosciences
IPO Date: September 12, 2024
Initial IPO Price: $16.00
Price on November 14, 2024: $20.38
MBX Biosciences announced the pricing of its IPO, selling 10.2 million shares of common stock at $16.00 per share, expecting to raise $163.2 million. The underwriters also have a 30-day option to buy an additional 1.53 million shares. The shares started trading on Nasdaq under the ticker symbol “MBX.” On September 16, MBX announced the closing of its upsized IPO, which included the full exercise of the underwriters’ option to purchase additional shares, bringing the total to 11.73 million shares sold. This upsized offering raised approximately $187.7 million in gross proceeds, surpassing the initial estimate of $163.2 million.
The IPO supports the development of MBX’s innovative pipeline of precision peptide therapies, driven by its proprietary Precision Endocrine Peptide (PEP) platform. MBX is progressing through critical clinical trials, including Phase II testing for MBX 2109 and Phase I for MBX 1416, with other treatments, like MBX 4291, in the preclinical stage.
MBX 2109, the lead candidate, is a long-acting parathyroid hormone peptide prodrug designed for chronic hypoparathyroidism (HP). Now in Phase II trials, MBX 2109 offers once-weekly dosing with continuous PTH exposure, aiming to improve outcomes by reducing the need for daily supplements. Phase I results indicated that the treatment was well-tolerated and worked for a longer period between doses.
MBX 1416, in Phase I development for post-bariatric hypoglycemia (PBH), is a GLP-1 receptor antagonist intended to reduce hypoglycemic events through once-weekly dosing. MBX 4291, still in preclinical testing, is being developed for obesity, potentially offering once-monthly dosing based on preclinical data.
The IPO positions MBX Biosciences to accelerate its pipeline, addressing unmet needs in endocrine and metabolic disorders with long-acting, novel therapies designed to enhance patient management and improve efficacy.
Actuate Therapeutics
IPO Date: August 12, 2024
Initial IPO Price: $8.00
Price on November 14, 2024: $8.56
Actuate Therapeutics, a clinical-stage biopharmaceutical company targeting tough-to-treat cancers made an IPO on August 13, 2024. The company priced its IPO at $8.00 per share, raising a decent $30 million through the sale of 3.75 million shares. This influx of capital is set to fuel the advancement of their lead compound, elraglusib (formerly 9-ING-41), a small molecule designed to inhibit glycogen synthase kinase-3 beta (GSK-3β) in refractory cancers.
Elraglusib is an innovative drug that infiltrates cancer cells and disrupts GSK-3β, a key enzyme that orchestrates the survival, growth and spread of tumor cells. By blocking this enzyme, elraglusib not only aims to kill cancer cells but also boosts the body’s immune response against tumors. Actuate is currently putting elraglusib through its paces in a randomized Phase II trial for metastatic pancreatic cancer, where early data has shown promising survival benefits — 12.2 months in the treatment arm versus 7.3 months in the control group.
The IPO officially closed on August 14, 2024, with Actuate’s stock debuting on the Nasdaq under the ticker “ACTT”. Beyond pancreatic cancer, Actuate is exploring elraglusib’s potential in other tough-to-treat cancers within its pipeline like glioblastoma, lung and colorectal cancers, as well as pediatric cancers, such as Ewing sarcoma, through ongoing Phase I/II studies.
Elraglusib’s significance is underscored by its Fast Track and Orphan Drug Designations from the US Food and Drug Administration (FDA) for pancreatic cancer, signaling its potential to meet critical unmet medical needs. Actuate is also expanding the drug’s versatility by developing oral forms, potentially widening its application across multiple cancer types, including melanoma and colorectal cancer.
In a symbolic gesture, Actuate rang the Nasdaq opening bell on August 23, 2024, marking their official entry as a publicly traded entity.
OS Therapies
IPO Date: July 31, 2024
Initial IPO Price: $4.00
Price on November 14, 2024: $2.52
Amid the 2024 biotech IPO surge, OS Therapeutics Incorporated (OSTX) raised $6.4 million through its IPO, pricing 1.6 million shares at $4.00 each. Net proceeds, around $6.0 million, will fuel the company’s clinical development programs and support corporate operations.
OS Therapeutics’ second quarter (Q2) 2024 financial results showcased a solid financial foundation, with $11.5 million in cash and cash equivalents as of June 30, 2024. This, combined with IPO proceeds, will fund ongoing and future clinical trials, including the pivotal Phase IIb trial of OST-HER2 in recurrent osteosarcoma, a bone cancer that keeps returning. Operating expenses were primarily driven by R&D activities, with a clear focus on high-impact areas such as immunotherapy and antibody-drug conjugates (ADCs).
In a strategic leap, OS Therapeutics joined Johnson & Johnson Innovation – JLABS, gaining access to cutting-edge research facilities and strategic mentorship. This collaboration is expected to accelerate the development of its key pipeline candidates, OST-HER2 and OST-tADC.
OST-HER2, OS Therapeutics’ flagship product, uses bioengineered Listeria monocytogenes to provoke a potent immune response against HER2 (human epidermal growth factor receptor 2)-expressing cancer cells. With a Phase IIb trial nearing completion and key FDA designations — including Fast Track, Orphan Drug and Rare Pediatric Disease, and actively seeking Breakthrough Therapy — the company is poised for a potential Biologics License Application (BLA) soon.
OS Therapeutics is also pioneering the OST-tADC platform, using SiLinkers technology to precisely target cancer cells with minimal damage to healthy tissues. The ADC market, which is expected to grow from $4.5 billion in 2023 to nearly $19.8 billion by 2028, represents a significant opportunity for OS Therapeutics as it develops its OST-tADC platform.
Artiva Biotherapeutics
IPO Date: July 18, 2024
Initial IPO Price: $12.00
Price on November 14, 2024: $11.46
Artiva Biotherapeutics, Inc. announced the pricing of its upsized initial public offering (IPO), offering 13,920,000 shares of common stock at $12.00 per share. Artiva is a clinical-stage biotechnology company focused on developing cell therapies for autoimmune diseases and cancers.
Trading under the symbol “ARTV” on the Nasdaq Global Market, Artiva is set to raise approximately $167.0 million in gross proceeds. The offering is expected to close on July 22, 2024.
Founded in 2019 and headquartered in San Diego, Artiva Biotherapeutics specializes in developing natural killer (NK) cell-based therapies. Artiva’s product candidates are allogeneic, pre-manufactured, cryopreserved and ready-to-ship, offering an “off-the-shelf” accessible solution. Their lead therapy, AlloNK, is a non-genetically modified NK cell therapy being tested in combination with B-cell targeted monoclonal antibodies in ongoing Phase I/Ib trials for lupus nephritis (LN) — a type of kidney disease that causes severe damage to the kidneys and affects about 50 percent of adults with lupus — and other autoimmune indications.
Artiva reported revenue of $32.75 million for the 12 months ending March 31, 2024, with an impressive annual revenue growth of 579.21 percent. The company’s market capitalization stands at $274.78 million.
Artiva’s AlloNK has shown promising results in ongoing trials, reducing harmful B cells in patients with relapsed or refractory B-cell non-Hodgkin lymphoma (B-NHL). The company has initiated a Phase I trial for AlloNK in combination with monoclonal antibodies for LN, marking the first use of allogeneic NK cell therapy for an autoimmune disease in a US clinical trial.
Aside from LN, AlloNK is also being researched in Phase I trials for B cell malignancies, rheumatoid arthritis and more, as well as Phase II trials initiated in collaboration with Affimed for relapsed/refractory Hodgkin lymphoma. Their pipeline also includes two chimeric antigen receptor (CAR)-based therapies that target human epidermal growth factor receptor 2 (HER2)-positive tumors, such as breast and gastric cancers and CD5-positive T-cell lymphomas and leukemias currently in preclinical studies.
With the IPO proceeds, Artiva plans to speed up its clinical trials and expand its treatment offerings. The company expects to share initial results from their ongoing trials in the first half of 2025.
Alumis
IPO Date: June 27, 2024
IPO Price: $16.00
Price on November 14, 2024: $10.37
Alumis announced its initial public offering (IPO) of 13,125,000 shares of common stock, priced at $16.00 per share. The company has also granted underwriters a 30-day option to purchase up to an additional 1,968,750 shares. Shares began trading on the Nasdaq under the symbol “ALMS” on June 28, 2024, with the offering expected to close by July 1, 2024.
Alumis Inc. is a clinical-stage biopharma company dedicated to replacing broad immunosuppression with targeted, effective treatments, aiming to revolutionize the management of immune-mediated diseases.
In conjunction with the IPO, Alumis is conducting a concurrent private placement of 2,500,000 shares at the same offering price to AyurMaya Capital Management Fund, LP, totaling expected gross proceeds of approximately $250 million from both the IPO and private placement. These funds will support ongoing clinical developments and future research initiatives.
Leading Alumis’ product lineup are the oral small molecule ESK-001 and the brain-penetrant A-005, both allosteric tyrosine kinase 2 (TYK2) inhibitors targeting different aspects of immune-mediated diseases. ESK-001 is being evaluated in a Phase II trial for its efficacy in treating moderate-to-severe plaque psoriasis and systemic lupus erythematosus. The Phase II STRIDE trial delivered positive results, with ESK-001 meeting its primary endpoints of reduction in psoriasis severity. A-005, designed to penetrate the central nervous system (CNS), is under study for potential treatment of neuroinflammatory and neurodegenerative diseases such as multiple sclerosis (MS) and Parkinson’s disease.
Alumis plans to initiate multiple Phase III trials for ESK-001 in the second half of 2024, reflecting a deep commitment to combatting immune diseases. Additionally, Phase I trials for A-005 began in early 2024, with initial results anticipated by year-end. In March 2024, Alumis secured $259 million in Series C funding led by Foresite Capital, Samsara BioCapital and venBio Partners. This funding is intended to support Phase III trials for ESK-001 in plaque psoriasis, advancing Phase II trials in other conditions and enhancing its precision data analytics for broader autoimmune applications.
Beyond its TYK2 inhibitors, Alumis is advancing a variety of preclinical programs powered by its proprietary precision data analytics platform.
Since its founding in 2021, Alumis has secured over $600 million from notable life science investors, underscoring its potential and commitment to innovation. As the company transitions to the public market, it aims to impact both market and medical practice in immunology.
Rapport Therapeutics
IPO date: June 7, 2024
IPO price: $17.00
Price on November 14, 2024: $22.20
Rapport Therapeutics is advancing the field of small molecule medicines targeting central nervous system (CNS) disorders through their innovative RAP technology platform, focusing on manipulating receptor-associated proteins (RAPs). These proteins are critical for neuronal receptor function and expression, making them key targets in CNS disorders. Rapport’s strategic goal is to develop precise, targeted therapies for CNS disorders, which could lead to more effective treatments with fewer side effects.
The company recently issued 8,000,000 shares of common stock at $17.00 per share (totaling $136 million dollars), with an additional 1,200,000 shares available for underwriters to purchase. This IPO supports Rapport’s ongoing research and development, especially in the CNS disorder space. Rapport has listed its stocks on the Nasdaq Global Market under the ticker “RAPP.”
RAP-219, Rapport’s leading candidate developed using their RAP technology, is an AMPA receptor (AMPAR) negative allosteric modulator (NAM). It targets TARPγ8, a RAP associated with AMPARs, enhancing specificity. AMPARs regulate brain glutamate activity that has been implicated in the development of several neurological diseases.
TARPγ8 is predominantly found in brain regions like the hippocampus, which is directly involved in focal epilepsy. The specificity of RAP-219 might offer a more targeted approach to treating epilepsy, potentially reducing side effects compared to broader-acting drugs.
Rapport Therapeutics also explores other avenues through their RAP technology. They have discovery-stage nicotinic acetylcholine receptor (nAChR) programs aimed at chronic pain (α6) and hearing disorders (α9α10), again leveraging their ability to target specific receptor subunits that traditional methods might miss.
Rapport has successfully completed Phase I clinical trials assessing the safety and tolerability of RAP-219 in healthy adults. These trials are foundational in establishing the initial safety profile of RAP-219 before proceeding to more targeted patient populations. The company plans to initiate a Phase IIa proof-of-concept trial in mid-2024. This trial will focus on adult patients with drug-resistant focal epilepsy, with expectations to deliver topline results by mid-2025. Additionally, Phase IIa trials for RAP-219 targeting peripheral neuropathic pain and bipolar disorder are scheduled for the second half of 2024 and in 2025.
Another molecule targeting TARPγ8, RAP-199, is slated to enter Phase I trials in the first half of 2025. This candidate also leverages the RAP technology but with different chemical and pharmacokinetic properties.
Contineum Therapeutics
IPO date: April 4, 2024
IPO price: $16.00
Price on November 14, 2024: $18.61
Contineum Therapeutics, a clinical-stage biopharmaceutical company focused on discovering and developing novel, oral small molecule therapies that target biological pathways associated with specific clinical impairments for the treatment of neuroscience, inflammation and immunology (NI&I) indications, recently unveiled the pricing details of its IPO. The offering consisted of 6,875,000 shares of common stock priced at $16.00 per share for public acquisition. Trading of these shares started on the Nasdaq Global Select Market on April 4, 2024, under the ticker symbol “CTNM.”
The company’s pipeline features a range of internally developed programs focused on neuroinflammation and immune disorders. A standout within this lineup is PIPE-791, an LPA1 receptor antagonist currently undergoing Phase I trials for idiopathic pulmonary fibrosis and progressive multiple sclerosis. In vitro experiments have highlighted PIPE-791’s capabilities in encouraging oligodendrocyte differentiation and myelination, as well as its protective effects against cytokine-induced cell death in oligodendrocytes. Furthermore, preclinical in vivo studies have shown its ability to engage central nervous system LPA1 receptors, promoting remyelination and reducing neuroinflammation.
Contineum Therapeutics obtained clearance from the US Food and Drug Administration (FDA) last year to start a Phase I clinical trial for PIPE-791. This randomized, double-blind, placebo-controlled dose-ranging study is anticipated to enroll around 80 healthy volunteer subjects.
Another prominent candidate in Contineum’s portfolio is PIPE-307, which is being developed as a potential first-in-class selective inhibitor of the M1 receptor. This candidate is currently in Phase II trials for relapsing-remitting multiple sclerosis and is expected to begin Phase II trials for depression by mid-2024. Initial results from Phase I trials have been promising, showing that PIPE-307 has a linear pharmacokinetic (PK) profile that aligns with preclinical modeling. Additionally, it has shown good tolerability across all dosage groups tested. Importantly, the dosages used in the Phase I trials have resulted in brain uptake levels that correlate with the remyelination observed in preclinical studies.
Boundless Bio
IPO date: March 27, 2024
IPO price: $16.00
Price on November 14, 2024: $3.30
Boundless Bio, a pioneering clinical-stage oncology company dedicated to exploring extrachromosomal DNA (ecDNA) biology to revolutionize therapies for patients with previously refractory oncogene-amplified cancers, recently unveiled the pricing details of its IPO. The offering consisted of 6,250,000 shares of common stock priced at $16.00 per share for public acquisition. Trading of these shares started on the Nasdaq Global Select Market on March 27, 2024, under the ticker symbol “BOLD.”
The company’s primary clinical focus lies in a novel approach to cancer therapeutics, addressing the substantial unmet needs of patients with oncogene-amplified tumors by targeting ecDNA, a fundamental driver of oncogene amplification observed in over 14 percent of cancer patients.
Using its proprietary Spyglass platform, the company identifies key targets crucial for the functionality of ecDNA. It then designs and develops small molecule drugs, known as ecDNA-directed therapies (ecDTx), aimed at inhibiting these targets. This approach blocks the ability of cancer cells to use ecDNA for growth, adaptation and resistance to current treatments.
Boundless Bio is at the forefront of developing the first ecDTx, BBI-355, currently under evaluation in a Phase I/II clinical trial. Additionally, the company announced promising preclinical data last year regarding its second ecDTx, BBI-825, an innovative, orally available, selective inhibitor of ribonucleotide reductase (RNR). BBI-825 has showcased significant RNR inhibition across various tumor cell lines and induced tumor regressions in ecDNA-enabled preclinical cancer models. Presently, it is undergoing assessment in Investigational New Drug (IND)-enabling studies.
Chromocell Therapeutics
IPO date: February 15, 2024
IPO price: $6.00
Price on November 14, 2024: $0.64
Chromocell Therapeutics Corporation, a clinical-stage biotech company dedicated to pioneering new non-opioid therapeutics for pain relief, recently disclosed the pricing details of its IPO. The offering comprised 1,100,000 shares of common stock priced at $6.00 per share for public acquisition. Trading of these shares started on the Nasdaq Global Select Market on February 15, 2024, under the ticker symbol “CHRO.”
The company’s primary clinical focus revolves around selectively targeting the sodium ion channel NaV1.7 for treating various forms of chronic neuropathic pain and eye pain. Chromocell’s leading candidate, CC8464, is designed as a potent and state-dependent inhibitor of human NaV1.7 with target selectivity. This design aims to preferentially impact injured or inflamed tissues while exerting minimal effects on NaV1.7 channels in uninjured or healthy tissues.
CC8464 is currently undergoing Phase I clinical investigation, with encouraging results from animal models of neuropathic pain suggesting its potential efficacy across several neuropathic pain types. Furthermore, it offers promise for addressing erythromelalgia (EM), a rare neuromuscular condition lacking approved treatments.
In February, Chromocell announced a strategic partnership with Benuvia Operations, a prominent figure in pharmaceutical innovation, aimed at advancing healthcare through pioneering research, development and commercialization efforts. By using the manufacturing and supply services provided by Benuvia, Chromocell anticipates developing clinical programs for one or more licensed products within 18 months, thus accelerating the progress of potentially groundbreaking therapies.
Metagenomi
IPO date: February 8, 2024
IPO price: $15.00
Price on November 14, 2024: $2.07
Metagenomi is a pioneering precision genetic medicines company dedicated to developing curative therapeutics for patients through its proprietary, comprehensive metagenomics-derived toolbox. Recently, it announced the pricing of its IPO of 6,250,000 shares of common stock at a price of $15.00 per share for the public. Trading of these shares commenced on the Nasdaq Global Select Market on February 9, 2024, under the ticker symbol “MGX.”
Metagenomi’s groundbreaking discovery platform unlocks novel cellular machinery sourced from natural environments to create next-generation genome editing tools. Its CRISPR-associated transposase (CAST) systems, tailored for large, site-specific gene integrations, consistently achieve programmable transposition into multiple endogenous sites within the human genome.
Preliminary data from non-human primate trials using MG29-1, a novel type V CRISPR system, demonstrate promising outcomes for therapeutic gene knockdown. The study revealed Metagenomi’s ability to achieve high editing efficiency (up to 55 percent of the entire liver and approximately 75 percent of hepatocytes) with MG29-1 in primary human cells in laboratory settings, as well as in mice and non-human primates.
Furthermore, Metagenomi has been actively constructing libraries of nucleases, deaminases and reverse transcriptases, critical components for advanced engineering systems facilitating larger integrations. Through RNA-Mediated Integration Systems (RIGS), the company achieves both small edits (prime editing) and substantial edits, addressing complex gene modifications such as insertions, deletions and various types of point mutations.
Telomir Pharmaceuticals
IPO date: February 8, 2024
IPO price: $7.00
Price on November 14, 2024: $3.89
Telomir Pharmaceuticals, Inc. is a preclinical-stage pharmaceutical company dedicated to advancing the development and commercialization of TELOMIR-1, an innovative small molecule designed to serve as an oral in situ therapeutic treatment for human stem cells. Recently, the company announced the pricing of its IPO of 1,000,000 shares of common stock at a public offering price of $7.00 per share. Trading of these shares commenced on the Nasdaq Capital Market on February 9, 2024, under the ticker symbol “TELO.”
TELOMIR-1 represents a pioneering approach as the first small molecule intended to elongate DNA’s protective telomere caps, potentially facilitating age reversal. By leveraging its metal-binding properties to target specific classes of enzymes, TELOMIR-1 is poised to selectively influence the key processes responsible for the concentration and accumulation of iron and copper in serum, with implications for diseases such as hemochromatosis and cancer.
Telomir Pharmaceuticals initially focuses on treatments aimed at inhibiting the production of pro-inflammatory cytokines, notably IL-17, through the oral administration of TELOMIR-1 as a therapeutic intervention for stem cells in situ. Investigations into TELOMIR-1’s potential as a therapeutic agent extend to addressing age-related inflammatory conditions like hemochromatosis and aiding in post-chemotherapy recovery. This is achieved by disrupting and preventing the IL-17-induced inflammatory pathways that contribute to the systemic imbalance of cellular metals.
Kyverna Therapeutics
IPO date: February 7, 2024
IPO price: $22.00
Price on November 14, 2024: $4.95
Kyverna Therapeutics, Inc., a leading clinical-stage biopharmaceutical company dedicated to pioneering cell therapies for individuals afflicted by autoimmune diseases, has officially concluded its expanded IPO of 16,675,000 shares of common stock. Trading of Kyverna’s common stock commenced on the Nasdaq Global Select Market on February 8, 2024, under the ticker symbol “KYTX.”
The focal point of Kyverna’s efforts lies in its lead product candidate, KYV-101, which is progressing through clinical development across rheumatology and neurology. Notably, Phase II trials for multiple sclerosis and myasthenia gravis, a Phase I/II trial for systemic sclerosis, and two ongoing multi-center, open-label Phase I trials in the US and Germany for patients with lupus nephritis underscore the breadth of its potential impact. KYV-101, a fully human CD19 CAR T-cell therapy tailored for individuals with B cell-driven autoimmune diseases, recently obtained fast track designation from the FDA for the treatment of multiple sclerosis.
Kyverna harnesses cutting-edge CAR T engineering and insights gleaned from conventional CAR T-cell therapies for cancer to amass a formidable collection of cell therapy assets and tools targeting various facets of autoimmune disease pathogenesis. Specifically, KYV-101 zeroes in on CD19, a surface protein expressed by B cells that plays a pivotal role in numerous autoimmune disorders. The company remains committed to exploring additional indications for KYV-101 and cultivating a robust pipeline of innovative immunotherapy candidates aimed at addressing unmet medical needs in the realm of autoimmune diseases.
Related: How Kyverna Therapeutics Is Pioneering Cell Therapy for Autoimmune Diseases
Fractyl Health
IPO date: February 1, 2024
IPO price: $15.00
Price on November 14, 2024: $2.20
Fractyl Health, a leading metabolic therapeutics company dedicated to advancing innovative solutions for type 2 diabetes (T2D) and obesity treatment, has recently disclosed the pricing details of its IPO. The company will offer 7,333,333 shares of common stock at a public offering price of $15.00 per share, resulting in total gross proceeds of approximately $110.0 million. Fractyl Health’s common stock commenced trading on the Nasdaq Global Market under the ticker symbol “GUTS” on February 2, 2024.
Fractyl Health is actively developing two promising therapies for T2D treatment. Revita, an outpatient endoscopic procedural therapy, which aims to eliminate insulin needs and enhance glycemic control by ablating dysfunctional duodenal mucosa. Rejuva, a local adeno-associated virus (AAV)-delivered pancreatic gene therapy, seeks to enhance islet health through advanced delivery systems and proprietary screening methods, targeting the pancreas with metabolically active gene therapy candidates.
In a recent development, Fractyl Health announced the selection of RJVA-001 as its inaugural clinical T2D candidate in the Rejuva gene therapy platform. RJVA-001 represents the first GLP-1 pancreatic gene therapy (GLP1 PGTx) candidate nominated by the company, designed to address issues such as treatment discontinuation and metabolic rebound commonly observed with existing GLP-1-based therapies. Fractyl Health has initiated discussions with European regulators to establish an investigational new drug (IND)-enabling pathway for RJVA-001 in the treatment of T2D. The company anticipates completing IND-enabling studies, or equivalent milestones, for RJVA-001 by the second half of 2024.
Alto Neuroscience
IPO date: February 1, 2024
IPO price: $16.00
Price on November 14, 2024: $4.64
Alto Neuroscience is a clinical-stage biopharmaceutical company committed to reshaping psychiatry through the application of neurobiology to craft personalized and highly effective treatment options. Recently, it disclosed the pricing of its expanded IPO of 8,040,000 shares of common stock at a public offering price of $16.00 per share. Trading of the shares started on the New York Stock Exchange on February 2, 2024, under the ticker symbol “ANRO.”
Alto Neuroscience uses an AI-enabled platform to enhance the identification of patients likely to respond to novel product candidates and propel drug development through biomarkers. Currently, several noteworthy candidates are undergoing Phase II evaluation. For instance, in 2023, Alto Neuroscience disclosed encouraging results from its Phase 2a investigation of ALTO-300, a groundbreaking treatment for depression. Post-administration of ALTO-300, patients characterized by an electroencephalogram (EEG) biomarker exhibited substantial clinical amelioration in depression symptoms and higher response rates. These findings underscore the potential of ALTO-300 as an innovative treatment for major depressive disorder (MDD).
Another noteworthy candidate, ALTO-100, also demonstrates efficacy and favorable safety in patients with post-traumatic stress disorder (PTSD) in its Phase II trial. The PTSD patient group defined by biomarkers (n=44) displayed a mean reduction of 17.5 points in CAPS-5 scores at Week 4, compared to 12.9 points in the non-biomarker patient group (n=40), alongside a favorable safety and tolerability profile.
By harnessing its AI-enabled Precision Psychiatry Platform, Alto Neuroscience can predict clinical response and match each patient to the appropriate product candidate by identifying and prospectively replicating brain biomarkers through analysis of EEG activity, neurocognitive task performance, wearable devices and other metrics.
FibroBiologics
IPO date: January 31, 2024
IPO price: $30.00
Price on November 14, 2024: $2.99
FibroBiologics, a clinical-stage biotech company, commenced trading on the Nasdaq under the stock ticker “FBLG” following its direct listing on January 31, 2024. The offering included 4,806,226 shares of common stock at a reference price of $30.00 per share, allowing existing shareholders to sell their shares without underwriters. On June 4, 2024, FibroBiologics offered up to 1,742,160 units, each consisting of one share of common stock and one warrant to purchase an additional share, priced at $11.48 per unit, leveraging its current market standing.
Founded in Houston, Texas, FibroBiologics emerged from its predecessor, FibroGenesis, in 2021. The company focuses on treating chronic diseases such as degenerative disc disease, multiple sclerosis (MS), wound healing, certain cancers and life extension applications like thymic and splenic involution reversal. Using fibroblasts, which can regenerate tissue and organs similarly to stem cells but with quicker culture doubling time, FibroBiologics offers a non-invasive harvesting method from skin donors.
Their pipeline includes CybroCell for degenerative disc disease, which uses allogeneic fibroblast cells to repair intervertebral disc cartilage, showing positive results in animal studies and receiving the US Food and Drug Administration (FDA) conditional Investigational New Drug (IND) clearance for a Phase I/II clinical trial. The global degenerative disc disease market is valued to reach $49.7 billion in 2032.
FibroBiologics’ investigational cell therapy, CYMS101, for MS leverages fibroblasts’ immunomodulatory properties and demonstrated safety and preliminary efficacy in a Phase I trial in Mexico, and FibroBiologics plans to file an IND for a Phase II trial in the US. Statista estimated that the market for MS drugs will hit an annual revenue of $21.52 billion in 2024.
CYWC628 for wound healing has shown significant improvements in preclinical studies, with an IND submission expected in 2024. The wound care market, valued at approximately $17 billion globally in 2021, is projected to grow to $28.6 billion by 2028.
CYTER915 focuses on regenerating the thymus and spleen to enhance immune function and extend human life. It taps into the anti-aging therapeutics market, which is projected to reach $2.53 billion by 2031.
FibroBiologics recently expanded its patent portfolio (over 150 patents issued/pending), reinforcing its position in regenerative medicine. The company was granted an Australian patent for cartilage regeneration, three US patents for cartilage repair, disc degenerative disease treatment and gene therapy and three Japanese patents focusing on enhancing fibroblast therapeutic activity. They also filed a US patent application for using fibroblast technology to potentially treat lupus, showcasing fibroblasts’ versatility in modulating immune responses.
FibroBiologics faces competition from companies like Aesculap Implant Systems (activL Artificial Disc) in degenerative disc disease, TG Therapeutics’ Briumvi (ublituximab) in MS and numerous entities in wound healing, including Smith & Nephew’s PICO 7 and PICO 14 Single Use Negative Pressure Wound Therapy (sNPWT) system for Class I and II wounds. Despite intense competition, FibroBiologics aims to differentiate itself with unique fibroblast-based therapies, focusing on high unmet needs and partnering with contract research organizations (CROs) for efficient clinical trials. The company is well-positioned to advance its innovative platform and deliver groundbreaking treatments.
ArriVent BioPharma
IPO date: January 25, 2024
IPO price: $18.00
Price on November 14, 2024: $28.68
ArriVent BioPharma is a clinical-stage biopharmaceutical company committed to identifying, developing and commercializing differentiated medicines to meet the unmet medical needs of cancer patients. Recently, it announced the pricing of its increased IPO of 9,722,222 shares of its common stock at a public offering price of $18.00 per share. ArriVent’s common stock started trading on the Nasdaq Global Market on January 26, 2024, under the ticker symbol “AVBP.”
As a clinical-stage entity, ArriVent is actively assessing its leading drug candidate, furmonertinib, an oral, brain penetrant, epidermal growth factor receptor (EGFR) mutant-selective inhibitor in its Phase III clinical trial. In 2023, the US Food and Drug Administration (FDA) granted Breakthrough Therapy designation for furmonertinib for the treatment of patients with previously untreated, locally advanced or metastatic non-squamous non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations. Interim results from the trial demonstrated that furmonertinib has promising anti-tumor activity as a single agent with a well-tolerated safety profile in first-line and previously treated patients. The pivotal Phase III FURVENT trial of furmonertinib for the treatment of first-line NSCLC with EGFR exon 20 insertion mutations is currently enrolling patients globally.
ArriVent is constructing its pipeline with a profound grasp of cancer biology and unmet medical needs and is extending these competencies to other medications and research collaborations.
CG Oncology
IPO date: January 24, 2024
IPO price: $19.00
Price on November 14, 2024: $35.61
CG Oncology is a late-stage clinical biopharma company dedicated to the development and commercialization of a potential backbone bladder-sparing therapeutic for patients suffering from bladder cancer. Recently, it disclosed the completion of its increased IPO of 23,000,000 shares of its common stock. CG Oncology’s common stock is now listed on the Nasdaq Global Select Market under the ticker symbol “CGON.”
CG Oncology’s product candidate, cretostimogene grenadenorepvec, represents an investigational engineered oncolytic immunotherapy. In Bacillus Calmette-Guerin (BCG)-unresponsive non-muscle invasive bladder cancer (NMIBC), cretostimogene has demonstrated clinical benefit and has generally been well-tolerated in clinical trials, both as a monotherapy and in combination with other therapies. Additionally, it is undergoing Phase II evaluation in combination with pembrolizumab for the same indication. Furthermore, cretostimogene is being assessed in combination with nivolumab for other types of bladder cancer. They are currently planning further studies in bladder cancer.
Last month, the FDA granted fast track and breakthrough therapy designations to cretostimogene grenadenorepvec for potential therapeutic use in patients with high-risk BCG-unresponsive NMIBC with carcinoma in situ, with or without Ta or T1 tumors. This decision is supported by ongoing clinical trials, including the Phase III BOND-003 trial, which demonstrated that intravesically delivered oncolytic immunotherapy provided clinical benefit in the form of complete responses with acceptable tolerability.
To have your company featured on Xtalks, please email Vera Kovacevic, PhD, at: [email protected]
Join or login to leave a comment
JOIN LOGIN