Catabasis Pharmaceuticals, Inc. Shares Surge In Nasdaq Debut; Upsizes to Grab $60M in IPO
Catabasis Pharmaceuticals Announces Pricing of Initial Public Offering
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Catabasis Pharmaceuticals, Inc. today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of $12.00 per share, before the underwriting discount. All of the shares in the offering are being sold by Catabasis. In addition, Catabasis has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the public offering price, less the underwriting discount. Catabasis’ common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading under the ticker symbol “CATB” today.
The offering is expected to close on June 30, 2015, subject to customary closing conditions.
Citigroup Global Markets Inc. and Cowen and Company, LLC are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. and Wedbush PacGrow are acting as co-managers for the offering.
A registration statement relating to the securities being sold in this offering has been filed with and declared effective by the Securities and Exchange Commission. The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to this offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146, or email: prospectus@citi.com or from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 631-274-2806.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Catabasis
Catabasis Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics using its proprietary Safely Metabolized And Rationally Targeted, or SMART, linker technology platform. Catabasis's SMART linker technology platform is based on the concept of treating diseases by simultaneously modulating multiple targets in one or more related disease pathways. Catabasis engineers bi-functional product candidates that are conjugates of two molecules, or bioactives, each with known pharmacological activity, joined by one of its proprietary SMART linkers. The SMART linker conjugates are designed for enhanced efficacy and improved safety and tolerability. Catabasis’s focus is on treatments for rare diseases. Catabasis is also developing other product candidates for the treatment of serious lipid disorders.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150625005572/en/
Contact:
Catabasis Pharmaceuticals, Inc.
Andrea Matthews, 617-349-1971
amatthews@catabasis.com
Help employers find you! Check out all the jobs and post your resume.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--
Catabasis Pharmaceuticals, Inc. today announced the pricing of its initial public offering of 5,000,000 shares of its common stock at a public offering price of $12.00 per share, before the underwriting discount. All of the shares in the offering are being sold by Catabasis. In addition, Catabasis has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the public offering price, less the underwriting discount. Catabasis’ common stock has been approved for listing on the NASDAQ Global Market and is expected to begin trading under the ticker symbol “CATB” today.
The offering is expected to close on June 30, 2015, subject to customary closing conditions.
Citigroup Global Markets Inc. and Cowen and Company, LLC are acting as joint book-running managers for the offering. Oppenheimer & Co. Inc. and Wedbush PacGrow are acting as co-managers for the offering.
A registration statement relating to the securities being sold in this offering has been filed with and declared effective by the Securities and Exchange Commission. The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to this offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146, or email: prospectus@citi.com or from Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, telephone: 631-274-2806.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Catabasis
Catabasis Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics using its proprietary Safely Metabolized And Rationally Targeted, or SMART, linker technology platform. Catabasis's SMART linker technology platform is based on the concept of treating diseases by simultaneously modulating multiple targets in one or more related disease pathways. Catabasis engineers bi-functional product candidates that are conjugates of two molecules, or bioactives, each with known pharmacological activity, joined by one of its proprietary SMART linkers. The SMART linker conjugates are designed for enhanced efficacy and improved safety and tolerability. Catabasis’s focus is on treatments for rare diseases. Catabasis is also developing other product candidates for the treatment of serious lipid disorders.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150625005572/en/
Contact:
Catabasis Pharmaceuticals, Inc.
Andrea Matthews, 617-349-1971
amatthews@catabasis.com
Help employers find you! Check out all the jobs and post your resume.