Market Overview

Turning Point Therapeutics IPO: What You Need To Know

Share:
Turning Point Therapeutics IPO: What You Need To Know

When Turning Point Therapeutics hits the markets Wednesday, it wants to pivot your portfolio toward the rich field of oncology.

The IPO

Turning Point has priced 9.25 million shares at $18 per share on the Nasdaq under ticker "TPTX." The offering represents 30.2 percent of outstanding shares and is expected to bring in about $166.5 million.

Underwriters include Goldman Sachs, SVB Leerink, Wells Fargo and Canaccord Genuity.

Invest in IPO shares before the stock hits the market with ClickIPO. Check it out here

The San Diego company qualifies as an emerging growth company under the U.S. JOBS Act, which exempts management from certain SEC disclosure requirements.

The Company

The clinical-stage pharmaceutical company designs oncological drugs around proprietary kinase inhibitors. The internal platform is intended to prevent treatment resistance and reduce toxicity that limits treatment duration.

Management will initiate four Phase 2 programs in the back half of 2019. Two are for its leading candidate, repotrectinib, which targets non-small cell lung cancer and advanced solid tumors. The other two are for TPX-0022 and TPX-0046 targeting advanced solid tumors.

Turning Point maintains global development and commercialization rights for every candidate in its pipeline.

The Finances

In 2018, Turning Point spent $25.64 million on research and development as well as general and administrative expenses. It closed the year with a net loss of $24.76 million.

Management has not turned a profit since its 2013 inception.

Related Links:

Palomar IPO: What You Need To Know

FDA Determines Boston Scientific Hasn't Showed Reasonable Assurance Of Safety, Effectiveness For Surgical Meshes

Posted-In: oncologyNews Health Care Previews IPOs Top Stories Trading Ideas General Best of Benzinga

 

Related Articles (TPTX)

View Comments and Join the Discussion!

Port Report: Europe's Ocean Freight Industry Innovates While Los Angeles's Waits, Again

Nikola Motor Unveils Trucking's Hydrogen Future