More stock – priced at the mid-point: Maze Therapeutics (MAZE), a biotech developing drugs to treat chronic kidney disease (CKD), increased its IPO’s size – to 8.75 million shares – up from 7.8 million shares in the prospectus – and priced its IPO at $16.00 – the mid-point of its $15.00-to-$17.00 price range – to raise $140.0 million on Thursday night, Jan. 30, 2025.
Maze Therapeutics’ stock (MAZE) is expected to start trading today – Friday, Jan. 31, 2025 – on NASDAQ.
J.P. Morgan, TD Cowen, Leerink and Guggenheim Securities were the joint book-runners.
ARCH Venture Partners and Third Rock Ventures are among Maze Therapeutics’ principal shareholders.
South San Francisco-based Maze Therapeutics is developing oral treatments for chronic kidney disease (CKD) in Phase 1 and Phase 2 clinical trials, according to the prospectus.
Maze Therapeutics reported $167.5 million in licensing revenue – and $63.2 million in net income derived from that revenue – for the 12 months that ended Sept. 30, 2024, according to financial statements in the prospectus. In contrast, most biotechs report no revenue and a net loss when they go public.
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