RayzeBio Files Prospectus to Go Public:
RayzeBio has officially filed a prospectus to go public.
They have created a pipeline of multiple drug candidates, in therapeutic areas with significant market opportunities. Much like antibody drug conjugates emerged as a new and transformative treatment modality in certain cancers, they see an opportunity for innovative radiopharmaceutical therapeutics to follow a similar path. They are initially focused on building a market leading somatostatin receptor type 2, or SSTR2, franchise. As multiple diagnostic and therapeutic commercial products targeting SSTR2 are available, it is a clinically validated target expressed in multiple solid tumors. Their lead drug candidate, RYZ101, is designed to deliver a highly potent alpha particle radioisotope, Actinium 225, or Ac225, to tumors overexpressing SSTR2.
J.P. Morgan, Jefferies, Evercore ISI, Truist Securities have been tabbed as the bookrunners on the deal.
This is the third IPO filing of the week. The filing making the most buzz this week was Arm Holdings which filed its IPO on Monday after the close. Companies that officially file a prospectus with the SEC must wait ten days before setting terms for an IPO.
The filings that are trickling in at this time will “likely” set terms and debut after the Labor Day holiday.
Company: RayzeBio, Inc.
Symbol: RYZB (Nasdaq)
Description: They are building a vertically integrated radiopharmaceutical therapeutics company with our lead program in a Phase 3 clinical trial.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriters: J.P. Morgan, Jefferies, Evercore ISI, Truist Securities
Link to Prospectus: Filed: 8-24-23
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