April 27 (Reuters) – Drug developers Seaport Therapeutics and Hemab Therapeutics launched their U.S. initial public offerings on Monday, seeking to capitalize on a growing investor appetite for new listings.
The U.S. IPO market has regained momentum this month, as improving risk appetite and stronger investor sentiment encourage companies across sectors to pursue listings, despite the risks a prolonged Middle East conflict have been posing.
Earlier on Monday, space analytics firm HawkEye 360 and organic juice maker Suja Life also launched their IPOs, as issuers moved quickly to tap the reopening window.
Pulmonary fibrosis biotech Avalyn Pharma also launched its U.S. IPO last week.
Boston-based Seaport is seeking to raise up to $212.4 million by offering 11.8 million shares priced between $16 and $18 each, which could value the company at up to about $912 million.
The clinical-stage biotech is developing oral therapies for depression, anxiety and other neuropsychiatric disorders. Its lead candidate, GlyphAllo, is being developed for a major depressive disorder.
Seaport is expected to list on the Nasdaq under the ticker symbol “SPTX”. Goldman Sachs, J.P. Morgan and Leerink Partners are among the underwriters for the offering.
Meanwhile, Cambridge, Massachusetts-based Hemab is targeting to raise of up to $211.8 million by offering about 11.8 million shares for $16 to $18 apiece, for a valuation of as much as $705.7 million.
Hemab is focused on treatments for rare blood-clotting and bleeding disorders. Its lead candidate is being developed as a preventive treatment for rare inherited bleeding disorders Glanzmann thrombasthenia and Factor VII deficiency.
The company plans to list on the Nasdaq under the symbol “COAG”. Goldman Sachs, Jefferies and Evercore ISI are acting as joint book-running managers for the offering.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Vijay Kishore and Shinjini Ganguli)
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