Company: Magenta Therapeutics, Inc.
Symbol: MGTA
Description: They are a clinical-stage biotechnology company developing novel medicines to bring the curative power of bone marrow transplant to more patients.
Trade Date: 6/21
Shares: 6.67 million
Price Range: $14.00-$16.00
Underwriter(s): J.P. Morgan, Goldman Sachs, Cowen
Co-Manager(s): Wedbush PacGrow
Terms Added: 6-8-18
Business: For more than 50 years, doctors and patients have had difficult conversations about bone marrow transplant: the procedure can save lives and cure patients, however the risks of toxicity and death often deter its use. At Magenta, they believe they can refocus that conversation on the cure and enable many more patients with devastating diseases such as severe autoimmune disorders, including multiple sclerosis; blood cancers, including leukemia; and genetic diseases such as sickle cell disease to benefit from advances in transplant medicine. As it exists today, bone marrow transplant is a large market opportunity, and improvements to the current approaches could extend bone marrow transplant to more patients. The ability to treat patients with a bone marrow transplant is limited by the challenge of obtaining sufficient cells to perform the procedure, the inherent morbidity and mortality of current methods used to prepare patients for transplant, and complications following transplant.
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 $40 million in shares of their common stock in this offering at the initial public offering price per share.
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