Home / Business and Economy / Seaport Therapeutics Eyes IPO Amid $74.9M Net Loss
Seaport Therapeutics Eyes IPO Amid $74.9M Net Loss
27 Apr
Summary
- Seaport Therapeutics is seeking $212.4 million in a US IPO.
- The company reported a net loss of $74.9 million last year.
- Phase 2 trial results for its depression drug are expected in 2027.
Seaport Therapeutics Inc., a biotechnology company specializing in antidepressants and anxiety drugs, is aiming to raise $212.4 million through a US initial public offering. The Boston-based firm plans to offer 11.8 million shares at a price between $16 and $18 each. This offering comes as the company navigates substantial financial challenges, having reported a net loss of $74.9 million in the last year, an increase from the previous year's $46.9 million loss.
Positive developments are underway for its drug candidates. Seaport expects to release results from its Phase 2 trial for a major depressive disorder treatment in the first half of 2027. Recently, the company announced encouraging data from an early-stage trial for an oral drug targeting generalized anxiety disorder and intends to initiate two parallel trials for this candidate.
PureTech Health Plc, a significant investor, owns nearly 50% of Seaport, which was founded in 2024 and has since raised $325 million from various investors. Goldman Sachs Group Inc. and JPMorgan Chase & Co. are among the lead underwriters for the offering, with Seaport's shares slated to trade on the Nasdaq Global Market under the symbol SPTX.
