Seaport Therapeutics Prices 14.2M Shares at $18.00
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 hours ago
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Should l Buy SPTX?
Seaport Therapeutics priced 14.2M shares at $18.00. The deal size was increased to 14.2M shares of common stock from 11.8M shares and priced at the high-end of the $16.00-$18.00 range. Goldman Sachs, JPMorgan, Leerink, Citi and Stifel acted as joint book running managers for the offering. Seaport Therapeutics is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety, and other neuropsychiatric disorders.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Seaport's Stock Surge: Seaport Therapeutics also priced its IPO at $18, opening at $21, a ~17% rise, and climbing to $22.51 by 1:30 PM ET, showcasing investor optimism regarding its neuropsychiatric drug development.
- Significant Fundraising: The two companies collectively raised over $550 million through upsized IPOs, with Hemab expecting $301.5 million and Seaport $254.9 million, providing robust funding for future R&D and market expansion.
- Positive Market Reaction: The successful listings of both companies not only highlight the vitality of the biotech sector but also reflect investor confidence in new drug development, particularly driven by positive clinical trial results, potentially attracting more attention to this field.
See More
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- Seaport IPO Pricing: Seaport Therapeutics priced nearly 14.2 million shares at $18.00 each, expecting to raise about $254.9 million, reflecting investor confidence in its neuropsychiatric drug development and providing crucial funding support in a competitive biopharmaceutical market.
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- Market Response and Timeline: Both firms aim to close their offerings on May 4, and the positive market response to these IPOs may drive overall investment enthusiasm in the biotech sector, attracting more investor attention to emerging biopharmaceutical companies.
See More
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See More
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- Technological Platform Advantage: Seaport leverages its proprietary Glyph platform, focusing on improving oral bioavailability and reducing first-pass metabolism, aiming to reformulate clinically validated mechanisms into differentiated product candidates, showcasing its innovative capabilities in biotechnology.
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See More
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- Seaport's Stock Surge: Seaport Therapeutics also priced its IPO at $18, opening at $21, a ~17% rise, and climbing to $22.51 by 1:30 PM ET, showcasing investor optimism regarding its neuropsychiatric drug development.
- Significant Fundraising: The two companies collectively raised over $550 million through upsized IPOs, with Hemab expecting $301.5 million and Seaport $254.9 million, providing robust funding for future R&D and market expansion.
- Positive Market Reaction: The successful listings of both companies not only highlight the vitality of the biotech sector but also reflect investor confidence in new drug development, particularly driven by positive clinical trial results, potentially attracting more attention to this field.
See More
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- Seaport IPO Pricing: Seaport Therapeutics priced nearly 14.2 million shares at $18.00 each, expecting to raise about $254.9 million, reflecting investor confidence in its neuropsychiatric drug development and providing crucial funding support in a competitive biopharmaceutical market.
- Underwriter Options: Both companies have granted underwriters a 30-day option, with Hemab allowing for an additional 2.5 million shares and Seaport 2.1 million shares, a strategy that not only provides additional funding flexibility but could also enhance fundraising if market demand remains strong.
- Market Response and Timeline: Both firms aim to close their offerings on May 4, and the positive market response to these IPOs may drive overall investment enthusiasm in the biotech sector, attracting more investor attention to emerging biopharmaceutical companies.
See More
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- Significant Fundraising Surge: In April, 13 IPOs raised a total of $7.3 billion, with the latter half of the month seeing larger deals that pushed proceeds well above the historical average of $3.3 billion despite early volatility in March.
- Large Deals Leading the Market: Twelve IPOs raised over $100 million, notably Madison Air (MAIR) completing the largest offering of the year, indicating strong demand for sizable projects in the current market.
- Strong Investment Returns: Traditional IPOs averaged a robust 34% return by month-end, with nearly all trading above their issue price, reflecting a gradual restoration of market confidence in new listings.
- Increased Market Activity: With IPO filings reaching a year-to-date high, improved market conditions and solid returns are encouraging more companies to prepare for listings, suggesting an acceleration of IPO activity in the coming weeks.
See More
Seaport Therapeutics Raises $255 Million in IPO for Neuropsychiatric Therapies
- Oversubscribed Financing: Seaport Therapeutics successfully raised $255 million by offering 14.2 million shares at $18 each, exceeding initial plans by over 10%, reflecting strong market confidence in its neuropsychiatric treatment solutions.
- Significant Shareholder Participation: Existing shareholder General Atlantic indicated $50 million worth of shares in the offering, representing 20% of the deal, which not only bolsters investor trust in the company but also provides essential funding for future growth.
- Technological Platform Advantage: Seaport leverages its proprietary Glyph platform, focusing on improving oral bioavailability and reducing first-pass metabolism, aiming to reformulate clinically validated mechanisms into differentiated product candidates, showcasing its innovative capabilities in biotechnology.
- Clear Clinical Progress: The company's lead programs include GlyphAllo in Phase 2b for major depressive disorder and GlyphAgo in Phase 1 for generalized anxiety disorder, with these advancements laying a solid foundation for its future market performance.
See More
