Kiniksa Pharmaceuticals Ltd. (Hamilton, Bermuda) and Scholar Rock Holding Corp. (Cambridge, Mass.) each set price ranges on Monday for their respective NASDAQ IPOs.
Kiniksa now plans to sell 7 million shares at $17 to $19 in an IPO underwritten by Goldman Sachs, J.P. Morgan, JMP Securities and Wedbush PacGrow. At the $18 midpoint, the company would raise $126 million and be valued at $845 million.
Kiniksa filed to raise up to $100 million on April 27. It is developing a pipeline of therapies in-licensed from other companies for autoinflammatory and autoimmune conditions, including rilonacept from Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) and mavrilimumab from the MedImmune LLC unit of AstraZeneca plc (LSE:AZN; NYSE:AZN) (see BioCentury Extra, April 28).
Scholar Rock amended its offering to sell 5.4 million shares at $13 to $15 in an IPO underwritten by Jefferies, Cowen, BMO Capital Markets and Wedbush PacGrow. At the $14 midpoint, the protein growth factor company would raise $75 million and be valued at $342 million.
Last month, Scholar Rock proposed to raise up to $75 million (see BioCentury Extra, April 28).