Metacrine To Debut On Nasdaq Tomorrow

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

Pipeline:

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.

Near-term Catalysts:

— 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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