Biophytis files for 8.75M-share U.S. IPO at $7-$9/ADS

France’s Biophytis has filed an amended registration statement to offer 8.75M American Depositary Shares in its U.S. initial public offering.

It says in the amendment that it expects the ADS to price between $7 and $9 each, which comes out to €0.62-€0.80 per ordinary share.

It’s applied to list the ADS on Nasdaq under the symbol BPTS.

Amid companies looking to develop treatment to prevent or treat aging-related diseases, it exepcts to compete with Cytokinetics/Astellas (CYTK/OTCPK:ALPMY), Eli Lilly (NYSE:LLY), Novartis (NYSE:NVS), Pfizer (NYSE:PFE), and Sanofi/Regeneron (SNY/REGN). On DMD, it expects to compete with PTC Therapeutics (NASDAQ:PTCT) and Sarepta Therapeutics (NASDAQ:SRPT), among many others.

And for dry AMD, it believes it will compete with companies including Allegro Ophthalmics, Apellis Pharmaceuticals (NASDAQ:APLS), Astellas, Hemera Biosciences, Ionis Pharmaceuticals (NASDAQ:IONS), Ophthotech, and Stealth BioTherapeutics (NASDAQ:MITO).

https://seekingalpha.com/news/3476366-biophytis-files-8_75m-share-u-s-ipo-7-9-ads