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Odyssey Therapeutics Aims for $809.9M IPO
4 May
Summary
- Odyssey Therapeutics targets an $809.9 million valuation.
- The company plans to raise up to $238.3 million.
- The biotech firm intends to list on Nasdaq Capital Market.
Biopharmaceutical company Odyssey Therapeutics has announced its intention to pursue an initial public offering (IPO) in the United States, targeting a valuation of up to $809.9 million. The company is preparing to raise a significant amount, seeking to secure as much as $238.3 million.
This fundraising effort involves offering 13.2 million shares, with pricing set between $16 and $18 per share. The U.S. IPO market is exhibiting early indications of recovery, having experienced its most active April in more than four years. This trend suggests a potential increase in new listings in the upcoming months.
Odyssey Therapeutics has chosen the Nasdaq Capital Market for its public debut, where it will trade under the ticker symbol 'ODTX'. Key financial institutions, including J.P. Morgan, TD Cowen, and Cantor, are serving as underwriters for this offering.
