Health and Healthcare
Sienna Biopharma Closes In on IPO
Published:
Last Updated:
Sienna Biopharmaceuticals filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). The company expects to price its 4.33 million shares in the range of $14 to $16 per share, with an overallotment option for an additional 650,000 shares. At the maximum price, the entire offering is valued up to $74.75 million. The company intends to list its shares on the Nasdaq under the symbol SNNA.
The underwriters for the offering are JPMorgan, Cowen, and BMO Capital Markets.
This is a clinical-stage biopharmaceutical company focused on bringing innovations in biotechnology to the discovery, development of topical products in medical dermatology and aesthetics.
The company’s objective is to develop its multi-asset pipeline of topical therapies that enhance the health, appearance and quality of life of dermatology patients. Sienna is advancing multiple product candidates derived from its Topical by Design platform, all of which are designed to be suitable for chronic administration in patients with inflammatory skin diseases and other dermatologic and aesthetic conditions.
Its lead candidate from this platform, SNA-120, is a first-in-class inhibitor of TrkA in Phase 2b clinical development for the treatment of pruritus, or itch, associated with psoriasis, as well as for psoriasis itself. Its second Topical by Design product candidate, SNA-125, is a dual JAK3/TrkA inhibitor being developed for the treatment of atopic dermatitis, psoriasis and pruritus. Additionally, Sienna has advanced SNA-001, a silver particle treatment derived from its Topical Photoparticle Therapy platform, into pivotal clinical trials for both acne vulgaris and the reduction of unwanted light-pigmented hair.
Sienna intends to use the net proceeds from this offering for:
- Approximately $27.0 million to fund the clinical development of SNA-120 through top-line results in its Phase 2b trial.
- Approximately $7.0 million to fund preclinical and clinical studies for SNA-125 through receipt of proof of concept data in each of atopic dermatitis and psoriasis.
- Approximately $20.0 million to fund ongoing pivotal clinical trials for SNA-001 through receipt of top-line results.
- The balance to fund internal research and development expenses and for working capital and general corporate purposes.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
