Oct. 15 Financial Quick Takes: Phathom, Galera, J&J earnings, RTW Investments, Azitra, MaveriX

Phathom, Galera move toward listings
Phathom Pharmaceuticals Inc. proposed terms for an IPO on NASDAQ. The GI company proposed to sell 7.9 million shares at $18-$20; at the mid-point, it would raise $150.1 million at a postmoney valuation of $491.8 million. Underwriters are Goldman Sachs, Jefferies, Evercore and Needham. Phathom’s acid blocker is entering Phase III testing to treat erosive esophagitis and Helicobacter pylori infection; its largest shareholder is Frazier Healthcare Ventures (see "New Filings Broaden Fall Queue").

Joining the IPO queue is Galera Therapeutics Inc., which has filed to raise up to $86.3 million on NASDAQ. The company uses superoxide dismutase mimetics to develop radiotherapeutics; its lead candidate, GC4419, is in a Phase III study to reduce severe oral mucositis in patients with head and neck cancer. Top shareholders include New Enterprise Associates, Novartis Venture Fund, Novo Holdings A/S and Sofinnova Investments. BofA Merrill Lynch, Citigroup, Credit Suisse and BTIG are underwriters...