Myokardia Sets Terms for IPO

By Chris Lange Published Oct 19, 1:55PM EDT

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MyoKardia has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The company expects to price roughly 4.69 million shares in the range of $15 to $17, with an overallotment option for an additional 703,125 shares. At the maximum price, the entire offering is valued up to $91.64 million. The company intends to file on the Nasdaq Global Market under the symbol MYOK.

The underwriters for the offering are Credit Suisse, Cowen, BMO Capital Markets and Wedbush PacGrow.

This clinical stage biopharmaceutical company is pioneering a precision medicine approach to discover, develop and commercialize targeted therapies for the treatment of serious and neglected rare cardiovascular diseases. The initial focus is on the treatment of heritable cardiomyopathies, a group of rare, genetically driven forms of heart failure that result from biomechanical defects in cardiac muscle contraction.

The company has used its precision medicine platform to generate an initial pipeline of four therapeutic programs for the chronic treatment of the two most common forms of heritable cardiomyopathy: hypertrophic cardiomyopathy (HCM) and dilated cardiomyopathy (DCM). MyoKardia has discovered and advanced its lead product candidate, MYK-461, into Phase 1 clinical development. In the first Phase 1 clinical trial, MyoKardia demonstrated proof of mechanism, or the ability of MYK-461 to reduce cardiac muscle contraction, an important biomarker of disease.

It is estimated that as many as 630,000 people in the United States suffer from a form of HCM and that DCM afflicts about a million people in the United States, of which approximately 400,000 have a form of heritable DCM. There are currently no approved therapies indicated for the treatment of HCM or DCM, including heritable DCM, all of which are chronic and debilitating diseases.

MyoKardia expects to use the net proceeds from this offering to fund the clinical development of MYK-461 through the completion of its planned Phase 2 trial, as well as to fund new and ongoing research and development activities, working capital and other general corporate purposes.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.