Company: AVROBIO, Inc.
Symbol: AVRO
Description: They are a clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose.
Trade Date: 6/21
Shares: 4.4 million
Price Range: $16.00-$18.00
Underwriter(s): Morgan Stanley, Cowen, Wells Fargo Securities
Co-Manager(s): Wedbush Pacgrow
Terms Added: 6-11-18
Business: They are a Phase 2 clinical stage gene therapy company focused on developing potentially curative ex vivo lentiviral-based gene therapies to treat rare diseases following a single dose. Their gene therapies employ hematopoietic stem cells that are extracted from the patient and then modified with lentiviral vectors to insert a functional copy of the gene that is defective in the target disease. They believe that their approach, which transforms stem cells from patients into therapeutic products, has the potential to provide curative benefit for a range of diseases in an outpatient setting. Their initial focus is on a group of rare genetic diseases referred to as lysosomal storage diseases, which today are primarily managed with enzyme replacement therapies, or ERTs. These lysosomal storage diseases have well understood biologies, identified patient populations and represent large market opportunities with approximately $4.0 billion in worldwide net sales in 2017.
Insider Buying: Certain of their existing stockholders, including entities affiliated with certain of our directors, have indicated an interest in purchasing an aggregate of approximately $37.5 million in shares of their common stock in this offering at the initial public offering price per share.
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