IPOs

Preclinical oncology biotech Foghorn Therapeutics prices IPO at $16 midpoint

Foghorn Therapeutics, a preclinical biotech developing gene therapies for hematologic cancers and solid tumors, raised $120 million by offering 7.5 million shares at $16, within the range of $15 to $17. At pricing, the company commands a fully diluted market value of $628 million.

Foghorn is developing a new class of medicines targeting genetically determined dependencies within the chromatin regulatory system through its proprietary Gene Traffic Control platform. The company's two most advanced candidates are being developed for hematologic cancers and solid tumors, and it plans to file INDs in the 4Q20 and 1H21.

Foghorn Therapeutics plans to list on the Nasdaq under the symbol FHTX. Goldman Sachs, Morgan Stanley, Cowen and Wedbush PacGrow acted as joint bookrunners on the deal.

The article Preclinical oncology biotech Foghorn Therapeutics prices IPO at $16 midpoint 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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