February 08, 2021 10:39 am
The Zug biotech company Pharvaris has significantly increased its expected proceeds from the IPO in the USA. According to his Press release it offered 8,270,500 of its common shares on the Nasdaq at an IPO price of $ 20. This corresponds to gross proceeds of around $ 165.4 million. After Information startupticker.ch had originally planned to issue 6,950,000 shares at an initial issue price of 18 dollars. Like the American investment company Renaissance Capital had announced that Pharvaris was in his application for the IPO with the American stock exchange regulator SEC still assumed a planned revenue of a maximum of 100 million dollars.
In addition, the company, with its headquarters in Zug and branches in the Netherlands and America, has granted the syndicate banks a 30-day over-allotment option. This would allow them to acquire up to 1,240,575 additional ordinary shares at the initial issue price minus the syndicated discounts and commissions.
Pharvaris is also planning to start the phase II study for its drug candidate for the treatment of hereditary angioedema (HAE) in the near future. Only last week had Pharvaris reportedthat his Phase I study was successful. This means that the remedy for this rare disease can be considered safe and well tolerated. mm
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