Metacrine (MTCR) expects to raise $84 million in an IPO on Wednesday, September 16th, IPO Scoop reports. The company plans to issue 6,500,000 shares at a price of $12.00-$14.00 per share.
Metacrine has a market cap of $337 million.
Jefferies, Evercore ISI and RBC Capital Markets served as the underwriters for the IPO and Canaccord Genuity was co-manager.
Metacrine provided the following description of their company for its IPO: ” We are a clinical-stage biopharmaceutical company focused on discovering and developing differentiated therapies for patients with liver and gastrointestinal, or GI, diseases. Our most advanced program targets the farnesoid X receptor, or FXR, which is central to modulating liver and GI diseases. FXR agonism has been investigated in large-scale clinical trials and has shown clinically relevant improvements in non-alcoholic steatohepatitis, or NASH, a liver disease characterized by excess liver fat, inflammation and fibrosis. We believe that potency, sustained exposure and continuous target engagement are key to optimizing therapeutic benefit with an FXR targeted therapy. Leveraging our extensive chemistry and biology expertise, we have built a proprietary library of over 2,500 FXR compounds, and have selected two novel, oral FXR candidates from a unique chemical scaffold, MET409 and MET642, that have the potential to deliver improved tolerability and therapeutic outcomes. MET409 and MET642 were purposefully designed to be differentiated treatments for NASH as potent, sustained FXR agonists, with the ability to be dosed orally once daily. With our program, we believe we can develop differentiated FXR agonist therapies for NASH and other GI diseases. “.
Metacrine was founded in 2014 and has 32 employees. The company is located at 3985 Sorrento Valley Blvd., Suite C, San Diego, CA 92121, US and can be reached via phone at (858) 369-7800 or on the web at http://www.metacrine.com.
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