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Chronic disease biotech Morphic Holding sets terms for $75 million IPO


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Morphic Holding, which is developing oral small-molecule integrin therapeutics for various chronic diseases, announced terms for its IPO on Friday.

The Waltham, MA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering. At the midpoint of the proposed range, Morphic Holding would command a fully diluted market value of $450 million.

Morphic Holding was founded in 2014 and booked $9 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol MORF. Jefferies, Cowen, BMO Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price during the week of June 24, 2019.

The article Chronic disease biotech Morphic Holding sets terms for $75 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





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