Principia Biopharma (PRNB) Announces September 14th IPO

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Principia Biopharma (PRNB) plans to raise $75 million in an initial public offering (IPO) on Friday, September 14th, IPO Scoop reports. The company will issue 4,700,000 shares at a price of $15.00-$17.00 per share.

In the last 12 months, Principia Biopharma generated $29.3 million in revenue and had a net loss of $7.8 million. Principia Biopharma has a market-cap of $338.6 million.

BofA Merrill Lynch, Leerink Partners and Wells Fargo Securities served as the underwriters for the IPO and Baird was co-manager.

Principia Biopharma provided the following description of their company for its IPO: ”  We are a clinical-stage biopharmaceutical company dedicated to bringing transformative oral therapies to patients with significant unmet medical needs in immunology and oncology. Our proprietary Tailored Covalency® platform enables us to design and develop reversible covalent and irreversible covalent, small molecule inhibitors with potencies and selectivities that we believe will rival those of injectable biologics, yet maintain the convenience of a pill. “.

Principia Biopharma was founded in 2008 and has 47 employees. The company is located at 400 East Jamie Court, Suite 302, South San Francisco, CA 94080, US and can be reached via phone at (650) 416-7700 or on the web at http://www.principiabio.com.

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