Aileron Therapeutics has registered an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The company mentioned no pricing details in this filing, but it values its shares up to $69 million. The firm intends to list its shares on the Nasdaq under the symbol ALRN.
The underwriters for the offering were Merrill Lynch, Jefferies, William Blair and Canaccord Genuity.
This clinical-stage biopharmaceutical company is focused on developing and commercializing a novel class of therapeutics called stapled peptides. Its lead product candidate, ALRN-6924, targets the tumor suppressor p53 for the treatment of a wide variety of cancers.
ALRN-6924, which is currently being tested in multiple clinical trials, reactivates p53-mediated tumor suppression by targeting the two primary p53 suppressor proteins, MDMX and MDM2. Its ongoing clinical trials of ALRN-6924 consist of a Phase 1 trial for the treatment of advanced solid tumors or lymphomas, a Phase 2a trial for the treatment of peripheral T-cell lymphoma (PTCL), a Phase 1 trial for the treatment of acute myeloid leukemia (AML) and advanced myelodysplastic syndrome (MDS) as a monotherapy, and a Phase 1b trial for the treatment of AML/MDS in combination with cytosine arabinoside (Ara-C).
As of March 31, 2017, the firm had cash, cash equivalents, and investments totaled $15.3 million. Aileron intends to use the net proceeds from this offering:
- To fund its ongoing clinical trials of ALRN-6924, including funding for its Phase 1 All-comers trial, funding for its Phase 2a PTCL trial, and funding for its Phase 1/1b AML/MDS trials.
- To fund additional research and clinical development activity related to ALRN-6924 and other programs.
The remainder of the net proceeds will be put toward working capital and other general corporate purposes, which may include funding for additional research, hiring additional personnel, capital expenditures and the costs of operating as a public company.
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
