Company: Constellation Pharmaceuticals, Inc.
Symbol: CNST
Description: They are a clinical-stage biopharmaceutical company using our expertise in epigenetics to discover and develop novel therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance.
Trade Date: 7/19
Shares: 5.34 million
Price Range: $14.00-$16.00
Underwriter(s): J.P. Morgan, Jefferies, BMO Capital Markets
Co-Manager(s): Oppenheimer & Co.
Terms Added: 7-9-18
Business: They are a clinical-stage biopharmaceutical company using their expertise in epigenetics to discover and develop novel therapeutics that address serious unmet medical needs in patients with cancers associated with abnormal gene expression or drug resistance. Their integrated epigenetics platform enables them to validate targets and generate small molecules against these targets that selectively modulate gene expression in tumor and immune cells to drive anti-tumor activity. Platform insights and clinical experience guide development of their wholly owned lead product candidates: CPI-1205 which inhibits enhancer of zeste homolog 2, or EZH2, and CPI-0610 which inhibits bromodomain and extra terminal domain, or BET, proteins. They believe that their approach to targeting these central gene regulatory mechanisms associated with cancer proliferation may enable them to provide therapeutic benefits to cancer patients.
They are currently conducting multiple clinical trials, including a Phase 1b/2 trial of CPI-1205 for the treatment of metastatic castration-resistant prostate cancer, or mCRPC, in combination with androgen receptor signaling inhibitors, which they refer to as the ProSTAR trial, and a Phase 2 trial of CPI-0610 as a monotherapy and in combination with ruxolitinib (marketed as Jakafi®) in patients with myelofibrosis, or MF. Preliminary data to date from these two trials suggest each product candidate has the potential to offer meaningful benefits beyond the current standard of care in mCRPC and MF. They believe that they are well-positioned to determine proof of concept with each of these product candidates in mid-2019 and, if successful, to advance them into pivotal clinical trials in these indications.
Insider Buying: Certain of theirr principal stockholders, including entities affiliated with certain of our directors, have indicated an interest in purchasing an aggregate of approximately $30.0 million in shares of our common stock in this offering at the initial public offering price per share and on the same terms as the other purchasers in this offering.
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