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Highlights
- Amylyx Pharmaceuticals filed for an IPO with the US Securities and Exchange Commission (SEC) on Jan 3.
- The company will offer 8.75 million shares of its common stock in the IPO.
- The expected IPO price range is US$18 to US$20 per share.
Amylyx Pharmaceuticals, Inc is gearing up for its initial public offering (IPO) in the US this year.
It filed a registration statement on Form S-1 related to the IPO with the US Securities and Exchange Commission (SEC) on Jan 3, 2022.
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Amylyx IPO price and total shares on offer
The Cambridge, Massachusetts-based company will offer all the shares of its common stock in the IPO, estimated at 8.75 million shares.
The IPO price is likely to be between US$18 and US$20 per share. At this price range, the company would raise around US$175 million.
It will also provide an additional 30-day option for the underwriters to purchase 1,312,500 shares at the offering price, less underwriting discounts, and commissions.
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Amylyx Pharmaceuticals, which develops novel therapies for neurodegenerative disorders, plans to trade its stocks in the Nasdaq Global Market (NASDAQ) under the ticker symbol AMLX.
The joint book-running managers for the offering are Goldman Sachs & Co. LLC, SVB Leerink, and Evercore ISI. The H.C. Wainwright & Co. would act as the lead manager for the offering.
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Amylyx Pharmaceuticals, Inc’s financial highlights
For the nine months ended Sept 30, 2021, the revenue was US$285,000 compared to US$300,000 in the same period a year ago. It also reported a net loss of US$59.58 million for the period against a loss of US$33.68 million in the first nine months of 2020.
As of Sept 30, 2021, its cash, cash equivalents, and short-term investments totaled US$125.70 million, while its total assets were worth US$130.46 million.
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Bottomline
The number of shares or the terms of the IPO may change, subject to market conditions. The US stock market saw a record number of IPOs in 2021 – totaling around 1000 IPOs and raising about US$325 billion.
