GlycoMimetics, Karyopharm set IPO ranges

GlycoMimetics Inc. (Gaithersburg, Md.) and Karyopharm Therapeutics Inc. (Natick, Mass.) became the latest two companies in the IPO queue to set terms on Monday. Since the start of October, at least four companies have priced IPOs and 11 new S-1 filings have been disclosed, including filings for GlycoMimetics and Karyopharm. At least 23 companies are seeking a listing (see BioCentury, Oct. 28).

Karyopharm plans to sell 5.7 million shares at $14-$16. At the $15 midpoint, the company would raise $85 million and be valued at $413.9 million. BofA Merrill Lynch; Leerink; JMP Securities; and Oppenheimer are underwriters. Karyopharm filed to raise up to $80 million earlier this month. The company's selinexor ( KPT-330) is in Phase I testing to treat advanced hematologic malignancies and solid tumors, with Phase II testing for solid tumors slated to start early next year. Next half, the company also plans to start Phase II/III trials of the oral selective inhibitor of nuclear export (SINE) protein exportin 1 ( XPO1; CRM1) in two cancer indications. ...