On Monday March 22, Phase 1 rare disease biotech Edgewise announced the terms for its upcoming $150 million IPO. The company initially filed an S-1 form on Friday March 5, 2021. Edgewise originally priced the IPO at $100 million. At the end of 2020, Edgewise announced the closing of a $95 million Series C preferred stock fundraising round led by Viking Global Investors.
The Phase 1 biotech plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Edgewise would command a fully diluted market value of $806 million. The biotech plans to list on the Nasdaq under the symbol EWTX and is expected to price this week.
Edgewise plans to use the net proceeds from this offering, along with existing cash and...