IPO - Profile

Summary

Offer Price Offer Size 3-Year Outlook Volatility First Day Turnover
$16.00 9,470,000 Positive High 17.85%

Offering Team

  • Legal counsel
  • Cooley LLP
  • Auditors
  • Ernst & Young LLP

Deal Highlights

We are a clinical-stage biopharmaceutical company focused on advancing new therapies for millions of patients living with inflammatory diseases and autoimmune disorders. We believe our ability to selectively modulate key immune targets to create differentiated medicines will allow us to potentially disrupt well-established multi-billion-dollar commercial markets and position us to become a leader in the immunology market. Our lead product candidate is VTX958, an oral, selective clinical-stage tyrosine kinase type 2 (TYK2) inhibitor. Its selectivity for TYK2 without detectable inhibition of other Janus kinase (JAK) isoforms has the potential to avoid toxicities associated with broader JAK inhibition and, thus, other JAK inhibitors. We believe VTX958 has the potential to address a broad range of immune-mediated diseases, such as psoriasis, inflammatory bowel disease (IBD), psoriatic arthritis and lupus, each of which represent multi-billion-dollar market opportunities. We plan to develop VTX958 initially for psoriasis, psoriatic arthritis and Crohn’s disease, among other potential indications. In addition, we are developing VTX002, an oral, selective Phase 2-ready sphingosine 1 phosphate receptor 1 (S1P1R) modulator for ulcerative colitis (UC). S1P1R is a clinically validated target and in our Phase 1 trial VTX002 was well tolerated at all doses tested and showed a dose-dependent and steady-state reduction in absolute lymphocyte count (ALC) of up to 65%. Based on these data, we plan to initiate a Phase 2 randomized, placebo-controlled clinical trial in the fourth quarter of 2021 to pursue the commercial opportunity in UC, which represented approximately $7 billion in worldwide sales in 2020.

Deal Tracker

IPO Dates

Filing 19 Oct, 2021

Offer 20 Oct, 2021

Look Ahead

Lock Up Expiry Apr 20, 2022

IPO Terms

Offer Price $16.00
Offer Size 9M

Market Sentiments

Stock Price