Genetic medicines firm Metagenomi Applied sciences mentioned on Thursday it’s aiming for a valuation of $563 million in its US preliminary public providing (IPO), a quantity that’s on the low finish of its preliminary goal vary.
The corporate, backed by Moderna and Bayer Healthcare , plans to lift about $93.8 million by promoting 6.25 million shares at $15 apiece.
That’s the decrease finish of its worth vary of $15-$17 per share.At $17 per share, Metagenomi would have had a market worth of $638 million.
Metagenomi, considered one of a string of healthcare corporations which have lately sought to go public, is growing therapies for genetic ailments like hemophilia A.
All of its income has been generated from three collaboration agreements, together with one with Moderna, and never any product gross sales. The corporate is but to show a revenue.
The corporate, backed by Moderna and Bayer Healthcare , plans to lift about $93.8 million by promoting 6.25 million shares at $15 apiece.
That’s the decrease finish of its worth vary of $15-$17 per share.At $17 per share, Metagenomi would have had a market worth of $638 million.
Metagenomi, considered one of a string of healthcare corporations which have lately sought to go public, is growing therapies for genetic ailments like hemophilia A.
All of its income has been generated from three collaboration agreements, together with one with Moderna, and never any product gross sales. The corporate is but to show a revenue.
