LogicBio Therapeutics Announces Potential Pricing for IPO

By Chris Lange Updated Jan 11, 4:13PM EST · Published Oct 18, 1:40PM EDT

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LogicBio Therapeutics Announces Potential Pricing for IPO — © Thinkstock

LogicBio Therapeutics has registered an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company expects to price its 5.77 million shares in the range of $12 to $14 per share, with an overallotment option for an additional 865,800 shares. At the maximum price, the entire offering is valued up to $92.897 million. The company intends to list its shares on the Nasdaq under the symbol LOGC.

The underwriters for the offering are Jefferies, Barclays, William Blair and Chardan.

This is a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical need using GeneRide, its proprietary technology platform. The GeneRide technology is designed to precisely integrate corrective genes into a patient’s genome to provide a stable therapeutic effect. Because GeneRide is designed to have this durable therapeutic effect, the firm is initially targeting rare liver disorders in pediatric patients where it is critical to provide treatment early in a patient’s life before irreversible disease pathology can occur.

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LogicBio has demonstrated proof of concept of its therapeutic platform in animal models for a number of diseases and is focusing on development of its lead product candidate, LB-001, for the treatment of methylmalonic acidemia (MMA), a life-threatening disease that presents at birth.

Based on the GeneRide technology, the firm is developing its lead product candidate, LB-001, to treat MMA. LogicBio expects to submit an IND and initiate a Phase 1/2 clinical trial for LB-001 by the end of 2019. Management believes that achieving clinical proof of concept in an inherited liver disease such as MMA will validate the platform technology, including its potential application to other organs and diseases.

The company detailed its plans for the net proceeds as follows:

Approximately $27.0 million for ongoing development of LB-001 in MMA, including conducting our Phase 1/2 clinical trial through the initial data read-out, clinical development outsourcing, drug manufacturing and internal personnel costs;

Approximately $29.0 million for discovery and preclinical development of additional product candidates, including LB-101, LB-201 and LB-301, using our GeneRide platform; and

The remainder for 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.