Sequoia Vaccines, a Phase 1 biotech developing a vaccine for recurrent UTIs and small molecules for cancers, announced terms for its IPO on Friday.
The St. Louis, MO-based company plans to raise $25 million by offering 2.8 million shares at a price range of $8 to $10. At the midpoint of the proposed range, Sequoia Vaccines would command a fully diluted market value of $80 million.
Sequoia Vaccines is focused on developing a vaccine to prevent recurrent urinary tract infections (UTIs), as well as small molecules for cancers and bacterial infections. The company's lead candidate, SEQ-400, is designed to generate antibodies that function to reduce the bacterial attachment and colonization of human bladders to prevent UTIs. Sequoia successfully completed a Phase 1 study of SEQ-400 in healthy volunteers and women with a history of recurrent UTIs, and it plans to commence a Phase 2 efficacy trial in 2024.
Sequoia Vaccines was founded in 2012 and plans to list on the NYSE American under the symbol SQVI. ThinkEquity is the sole bookrunner on the deal.
