Health and Healthcare
Aileron Therapeutics Gears Up for IPO
Published:
Last Updated:
Aileron Therapeutics has registered an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The company mentioned no pricing details in this filing, but it values its shares up to $69 million. The firm intends to list its shares on the Nasdaq under the symbol ALRN.
The underwriters for the offering were Merrill Lynch, Jefferies, William Blair and Canaccord Genuity.
This clinical-stage biopharmaceutical company is focused on developing and commercializing a novel class of therapeutics called stapled peptides. Its lead product candidate, ALRN-6924, targets the tumor suppressor p53 for the treatment of a wide variety of cancers.
ALRN-6924, which is currently being tested in multiple clinical trials, reactivates p53-mediated tumor suppression by targeting the two primary p53 suppressor proteins, MDMX and MDM2. Its ongoing clinical trials of ALRN-6924 consist of a Phase 1 trial for the treatment of advanced solid tumors or lymphomas, a Phase 2a trial for the treatment of peripheral T-cell lymphoma (PTCL), a Phase 1 trial for the treatment of acute myeloid leukemia (AML) and advanced myelodysplastic syndrome (MDS) as a monotherapy, and a Phase 1b trial for the treatment of AML/MDS in combination with cytosine arabinoside (Ara-C).
As of March 31, 2017, the firm had cash, cash equivalents, and investments totaled $15.3 million. Aileron intends to use the net proceeds from this offering:
- To fund its ongoing clinical trials of ALRN-6924, including funding for its Phase 1 All-comers trial, funding for its Phase 2a PTCL trial, and funding for its Phase 1/1b AML/MDS trials.
- To fund additional research and clinical development activity related to ALRN-6924 and other programs.
The remainder of the net proceeds will be put toward working capital and other general corporate purposes, which may include funding for additional research, hiring additional personnel, capital expenditures and the costs of operating as a public company.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
