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Highlights
- Theseus Pharmaceuticals was started to improve the lives of cancer patients.
- Theseus Pharmaceuticals has proposed terms for a US$ 125 million initial public offering (IPO).
- The Theseus Pharmaceuticals IPO is gaining the attention of potential investors in North America.
Theseus Pharmaceuticals, the Cambridge, Massachusetts-based biopharmaceutical company specializing in cancer research has proposed terms for a US$ 125 million initial public offering (IPO).
The pharmaceutical company will be offering 8.3 million common shares at a price range of US$ 14 to US$ 16 apiece and if the midpoint of the proposed range is considered, then Theseus Pharmaceuticals would have a fully diluted market value of US$ 593 million.
Established in 2017, Theseus Pharmaceuticals was started to improve the lives of cancer patients. The company is in the process of developing “pan-variant” targeted therapies to address the issue of drug resistance mutations.
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According to Theseus, drug resistance mutations limit the efficacy of existing targeted therapies and that affects the lives of patients suffering from cancer. The company is led by pioneers who discovered and developed tyrosine kinase inhibitors (TKIs), which the company believes is the only way to address cancer resistance.
As of now, Theseus' leading program is known as KIT (THE-630) which is IND-enabling stage. In this stage, pharmaceutical companies aim to get approval to conduct their first-in-human clinical trials with a new drug.
The KIT (THE-630) is being developed for the treatment of gastrointestinal stromal tumors and Theseus Pharmaceuticals is expected to apply for approval for in-human clinical trials in the fourth quarter of this year.
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Image Description: Theseus Pharmaceuticals IPO
How to buy the stock of Theseus Pharmaceuticals?
Theseus Pharmaceuticals is expected to list its shares on the Nasdaq Stock Market and it will start trading under the stock symbol 'THRX'. Those interested in this stock could buy the shares from trading platforms of brokerage companies or through stockbrokers once the stock hits the market.
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It is expected that the company will start trading publicly soon and the common shares may be offered to retail investors as pre-IPO shares. However, there's no confirmation as of now. The underwriting responsibility for the IPO would be taken by SVB Leerink, Jefferies and Cantor Fitzgerald.
Bottom line
As Theseus Pharmaceuticals’ products is still in a preclinical stage of development, the company's IPO appears to be risky as it has a long way to go before its drugs hit the market. As a retail investor, investing in a company that is in a nascent stage is unadvisable as it requires patience to hold the stock for the long term.
