Mikko Lemola
Drug developer Lexeo Therapeutics (LXEO) has disclosed terms for a proposed $126M initial public offering.
Lexeo said in an SEC filing that it was looking to offer 9M shares priced between $13 and $15, which would raise around $126M if priced at the midpoint. Underwriters were granted a 30-day option to buy up to 1.35M additional shares to cover any over-allotments.
JP Morgan, Leerink Partners, Stifel, RBC Capital Markets and Chardan as serving as joint bookrunners on the deal. Lexeo hopes to list its shares on Nasdaq under the symbol LXEO.
Based in New York, Lexeo has two products in Phase 1/2 testing, LX2006 for the treatment of Friedreich’s ataxia cardiomyopathy and LX1001 for the treatment of Alzheimer’s disease.
For a more in-depth look at Lexeo, read SA analyst Donovan Jones’ analysis of the IPO.
