(RTTNews) - Maze Therapeutics, Inc., (MAZE), a clinical-stage biopharmaceutical company focused on developing small molecule precision medicines, has priced its initial public offering or IPO of 8.8 million shares of common stock at $16.00 each, raising gross proceeds of $140 million.
The shares would debut on the Nasdaq Global Market on January 31, 2025, under the symbol 'MAZE.' The offering is expected to close on February 3, 2025.
The underwriters will have a 30-day option to purchase up to an additional 1.3 million shares of common stock at the IPO price, less underwriting discounts and commissions.
Pipeline and Near-term Catalysts:
Maze's pipeline is led by two wholly-owned programs:
MZE829 is an oral, small-molecule inhibitor of APOL1, for the treatment of patients with AKD.
In October 2024, the company had reported the results of Phase 1 clinical trial of MZE829.
The company has initiated a Phase 2 trial of MZE829 in November 2024 and expects to dose its first patient in the first quarter of 2025.
MZE782 is a potentially first-in-class, oral, small molecule targeting the solute transporter, SLC6A19. It has the potential to initially address approximately five million of the approximately 37 million chronic kidney disease or CKD patients in the U.S.
The company said it has applied a non-invasive biomarker strategy in its Phase 1 trial to establish proof of mechanism and to select doses for a Phase 2 trial. Initiated Phase 1 trial of MZE782 in September 2024 and expects to report initial data in the second half of 2025.
The company will be advancing its Compass platform to develop therapies for renal, cardiovascular, and metabolic diseases, including obesity.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
