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Reneo Pharmaceuticals Priced, Nasdaq: RPHM

Phase 2 biotech developing therapies for rare genetic mitochondrial diseases.

Industry: Health Care

Latest Trade: $12.78 +0.06 (+0.5%)

First Day Return: -7.4%

Return from IPO: -15.2%

Industry: Health Care

Reneo is a clinical stage pharmaceutical company focused on the development of therapies for patients with rare genetic mitochondrial diseases, which are often associated with the inability of mitochondria to produce adenosine triphosphate (ATP). We are developing REN001 to modulate genes critical to metabolism and generation of ATP, which is the primary source of energy for cellular processes. REN001 is a selective peroxisome proliferator-activated receptor delta (PPARd) agonist that has been shown to increase transcription of genes involved in mitochondrial function and increase fatty acid oxidation (FAO), and may increase production of new mitochondria. We believe REN001 could benefit patients with genetic mitochondrial myopathies who experience weakness, fatigue, cramping, and wasting of muscle due to the mitochondria’s inability to produce adequate levels of ATP. These patients often struggle to perform everyday activities, and over time, are at risk of experiencing cardiac and multisystem morbidities and have reduced life expectancy. We are initially developing REN001 in three rare genetic diseases that typically present with myopathy and have high unmet medical needs: primary mitochondrial myopathies (PMM), long-chain fatty acid oxidation disorders (LC-FAOD), and glycogen storage disease type V (McArdle disease).
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IPO News for Reneo Pharmaceuticals
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IPO Data
IPO File Date 03/19/2021
Offer Price $15.00
Price Range $15.00 - $17.00
Offer Shares (mm) 6.3
Deal Size ($mm) $94
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 04/08/2021
Offer Price $15.00
Price Range $15.00 - $17.00
Offer Shares (mm) 6.3
Deal Size ($mm) $94
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters San Diego, CA
Founded 2014
Employees 23
Website www.reneopharma.com