San Diego, California-based Metacrine is scheduled to go public on the Nasdaq Global Select Market under the symbol “MTCR” on September 16, 2020.
Founded in 2014, Metacrine is a clinical-stage biopharmaceutical company developing therapies for non-alcoholic steatohepatitis (NASH) and gastrointestinal (GI) diseases.
The company has offered to sell 6.54 million shares of common stock in the offering at an expected price range of between $12.00 and $14.00 per share, and the underwriters have an option for 30 days to purchase up to 981 thousand additional shares.
Underwriters of the IPO:
Jefferies LLC, Evercore Group L.L.C., RBC Capital Markets, LLC, Canaccord Genuity LLC
The company has two drug candidates namely MET409 and MET642.
— MET409 has been studied in a phase I trial as a monotherapy and in combination with an antidiabetic agent in the treatment of NASH.
— MET642 is currently in a phase I clinical trial as a monotherapy for the treatment of NASH.
— The full data from phase I trial of MT642 in NASH is expected in Q4, 2020.
— Initiation of a phase IIa combination trial of MET409 in NASH is expected in the first half of 2021.
— Initiation of a phase IIa monotherapy trial of MT642 in NASH is expected in the first half of 2021.
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