Aligos Therapeutics, a Phase 1 biotech developing oligonucleotide therapies for viral and liver diseases, announced terms for its IPO on Friday.
The South San Francisco, CA-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Aligos Therapeutics would command a fully diluted market value of $580 million.
The company's lead focus is to develop a functional cure for Chronic Hepatitis B (CHB). The company has developed a portfolio of differentiated drug candidates for CHB, including ALG-010133, an S-antigen Transport-inhibiting Oligonucleotide Polymers (STOPS) molecule. ALG-010133 is currently in a Phase 1 proof of concept trial in New Zealand.
Aligos Therapeutics was founded in 2018 and plans to list on the Nasdaq under the symbol ALGS. J.P. Morgan, Jefferies, Piper Sandler and Cantor Fitzgerald are the joint bookrunners on the deal.
