Nightstar Therapeutics PLC has registered an amended F-1 form with the U.S. Securities and Exchange Commission (SEC). The company intends to price its 5.36 million American depositary shares (ADSs) in the range of $13 to $15, with an overallotment option for an additional 804,000 shares. At the maximum price, the entire initial public offering is valued up to $92.46 million. Each ADS represents one ordinary share. The company intends to list its ADSs on the Nasdaq under the symbol NITE.
The underwriters for the offering are Jefferies, Leerink Partners, BMO Capital Markets, Wedbush PacGrow and Chardan.
This leading clinical-stage gene therapy company focuses on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases that would otherwise progress to blindness.
Leveraging its expertise in ophthalmology, gene therapy and drug development, the firm is developing a pipeline of proprietary product candidates that are designed to substantially modify or halt the progression of inherited retinal diseases for which there are no currently approved treatments.
Its lead product candidate, NSR-REP1, for the treatment of choroideremia is entering Phase 3 clinical development in the first half of 2018 and represents the most clinically advanced product candidate for this indication worldwide. In data from 32 patients treated with NSR-REP1 across four open-label clinical trials, over 90% of treated patients maintained their visual acuity over a one-year follow-up period. In some cases, Nightstar also observed substantial improvements in visual acuity.
Nightstar also is conducting a Phase 1/2 clinical trial with its second product candidate, NSR-RPGR, for the treatment of X-linked retinitis pigmentosa. The firm’s third product candidate, NSR-BEST1, is in preclinical development for the treatment of Best vitelliform macular dystrophy, or Best disease.
The company intends to use the net proceeds from this offering to further develop its pipeline. The remainder will go toward working capital and general corporate purposes.