3:58 PM
 | 
May 14, 2018
 |  BC Extra  |  Financial News

Kiniksa, Scholar Rock set IPO price ranges

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).

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