G1 Therapeutics Announces Potential Pricing for IPO

Print Email

G1 Therapeutics has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company expects to offer 6.25 million shares in the range of $15 to $17 per share, with an overallotment option for an additional 937,500 shares. At the maximum price, the offering is valued up to $122.19 million. The company plans to list its shares on the Nasdaq under the symbol GTHX.

The underwriters for the offering are JPMorgan, Cowen, Needham and Wedbush PacGrow.

This is a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapeutics for the treatment of cancer. Its two clinical assets are based on the core understanding of cyclin-dependent kinases (CDKs), a family of proteins that play an important role in the growth and proliferation of all human cells. Two particular CDKs, CDK4 and CDK6, collectively known as CDK4/6, represent a validated and promising class of targets for anti-cancer therapeutics.

G1 has leveraged its expertise in CDK4/6 biology to discover and develop two highly potent and selective CDK4/6 inhibitors that may have broad applicability across multiple cancer indications. Management believes that it is the only company with two distinct clinical-stage CDK4/6 inhibitors, trilaciclib and G1T38, each of which has the potential to be the backbone therapy of multiple combination regimens.

The firm further detailed in the filing:

Trilaciclib, our most advanced candidate, is a potential first-in-class intravenous CDK4/6 inhibitor we rationally designed to preserve HSPCs and enhance immune system function during chemotherapy. Chemotherapy has significant clinical utility and continues to be the most effective treatment for many cancers. However, it also damages HSPCs (myelosuppression) and the immune system (immunosuppression), leading to severe adverse effects and limiting anti-tumor activity. We believe that if the beneficial effects of chemotherapy (i.e. potent tumor cell killing) could be maximized, while minimizing the deleterious side-effects of myelosuppression and immunosuppression, patient outcomes would be significantly improved.

The company intends to use the net proceeds from the offering to further develop its pipeline, with the remainder going toward working capital and general corporate purposes.