- Preclinical biotech, Foghorn Therapeutics (FHTX) to offer 7.5M shares in the IPO at $15-$17 per share.
- Underwriters' over-allotment is an additional 1.125M shares.
- Net proceeds together with existing cash and cash equivalents will be used as follows: ~$35M to advance FHD-286,~$20M to advance FHD-609, ~$70M for other research and development activities, including continued development of our Gene Traffic Control platform; and the remainder for working capital and other general corporate purposes
- The company's two most advanced candidates are FHD-286, a selective allosteric ATPase inhibitor, and FHD-609, a protein degrader. The candidates are being developed for hematologic cancers and solid tumors, and the company plans to file INDs for FHD-286 and FHD-609 in the 4Q20 and 1H21, respectively.
- The company's pipeline is as follows:
- IPO is expected to price this week.
- Source
- https://seekingalpha.com/news/3623248-foghorn-therapeutics-sets-ipo-terms-to-issue-7_5m-shares
Monday, October 19, 2020
Foghorn Therapeutics sets IPO terms to issue 7.5M shares
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