Bambusa Therapeutics priced an upsized initial public offering on October 29. The clinical-stage biopharmaceutical company set a price of US$16.00 per share. It expects gross proceeds of US$168.9 million before underwriting discounts and expenses.
Offering terms
The offering covers 10,555,555 common shares. Underwriters have a 30-day option to purchase up to 1,583,333 additional shares at the IPO price. BofA Securities, Evercore ISI, UBS Investment Bank, and Cantor are the joint book-running managers.
Company focus
Bambusa develops long-acting precision bispecific antibodies for immunology and inflammation. Its pipeline includes BBT001, BBT002, and two preclinical programs. The company combines advanced antibody engineering with clinically and commercially validated biologic pathways.
Pipeline candidates
BBT001 targets IL-4Rα and IL-31 and is in clinical development for atopic dermatitis and other inflammatory skin diseases. BBT002 targets IL-4Rα and IL-5 for Type 2 inflammatory disorders. BBT003 and BBT004 are preclinical programs focused on gastroenterology and autoantibody-driven autoimmune diseases, respectively.
Shares are expected to begin trading on the Nasdaq Global Select Market on October 30 under the ticker symbol BBTX. The offering is expected to close on November 2, subject to customary closing conditions. All common shares are being offered by Bambusa.