Edgewise Therapeutics, a Phase 1 biotech developing small molecule therapies for rare muscle disorders, announced terms for its IPO on Monday.
The Boulder, CO-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Edgewise Therapeutics would command a fully diluted market value of $806 million.
Edgewise is focused on the discovery, development, and commercialization of innovative treatments for severe, rare muscle disorders for which there is significant unmet medical need. Its lead candidate, EDG-5506, is an orally administered allosteric, selective, fast myofiber (type II) myosin small molecule inhibitor designed to address the root cause of dystrophinopathies. It is currently in a Phase 1 trial for Duchenne muscular dystrophy, Becker muscular dystrophy, and Limb-girdle muscular dystrophy.
Edgewise Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol EWTX. J.P. Morgan, Goldman Sachs and SVB Leerink are the joint bookrunners on the deal. It is expected to price during the week of March 22, 2021.
