WASHINGTON (dpa-AFX) - Monday, MBX Biosciences, a biotech firm focused on developing therapies for rare endocrine diseases, announced the initial public offering of 8.5 million shares, with an estimated price range of $14.00 to $16.00 per share.
The company plans to offer underwriters a 30-day option to acquire up to an additional 1.2 million shares at the initial offering price.
The funds raised and existing cash and short-term investments will be used to support the ongoing development of two clinical programs, research activities, and general corporate expenses.
J.P. Morgan, Jefferies, Stifel, and Guggenheim Securities are serving as joint book-running managers for the offering.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
