Wave Life Sciences has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No pricing terms were given in the filing, but the offering is valued up to $80 million. The company intends to list on the Nasdaq Global Market under the symbol WVE.
The underwriters for the offering are Jefferies and Leerink Partners.
This is a preclinical biopharmaceutical company with an innovative and proprietary synthetic chemistry drug development platform used to design, develop and commercialize a broad pipeline of first-in-class or best-in-class nucleic acid therapeutic candidates. Nucleic acid therapeutics have the potential to address diseases that have been difficult to treat with small molecule drugs or biologics and have emerged as a large and promising class of drugs.
The company is initially developing nucleic acid therapeutics that target genetic defects to either reduce the expression of disease-promoting proteins or transform the production of dysfunctional mutant proteins into the production of functional proteins. The platform is driven by innovative and proprietary stereochemistry technology, enabling Wave Life to rationally design, optimize and manufacture stereopure nucleic acid therapeutics, which it believes possess drug properties that are superior to the stereoisomer mixtures of oligonucleotides currently on the market or in development by others.
This platform can be used to design therapies that utilize any of the major molecular mechanisms employed by nucleic acid therapeutics, including antisense, ribonucleic acid interference exon skipping and others.
ALSO READ: 8 Fresh Analyst Stock Picks With 50% to 100% Upside
The company intends to use the net proceeds from this offering to fund additional preclinical studies and clinical trials for its pipeline. The remainder of the net proceeds will be used to advance discovery programs, to expand pipeline, for working capital and for other general corporate purposes. Wave Life may also use a portion of the net proceeds to acquire, license and invest in complementary products, technologies or businesses; however, it currently has no agreements or commitments to do so.
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
