Guggenheim Partners initiated coverage on Alumis Inc. ALMS, a clinical-stage biopharmaceutical company developing oral therapies for immune-mediated diseases.
On Friday, Alumis Inc ALMS priced its initial public offering at $16/share, the low end of the range of $16 to $18, raising $210 million via 13.13 million shares offering.
Alumis set the pricing of its U.S. initial public offering at $16 per share, the lower end of its price range, valuing it at around $902 million.
Alumis is targeting a valuation of up to $1.01 billion in its initial public offering in the United States, the therapy developer said on Monday.
Biopharmaceutical company Alumis Inc. on Monday said it plans to offer 17.65 million shares at an estimated price range of $16 to $18 a share in its upcoming initial public offering. At the midpoint of its range, Alumis will raise about $300 million with underwriters Morgan Stanley, Leerink Partners, Cantor and Guggenheim Securities.
Alumis Inc. has filed for a $100 million IPO to advance its later-Phase trials treatment programs. Lead candidate ESK-001 shows positive trial results for psoriasis treatment, driving potential demand for company shares. The global psoriasis treatment market forecasted to reach $44 billion by 2031, with Alumis seeking U.S. public capital market investment.