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Synthorx closes IPO


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Synthorx closes IPO

Synthorx Inc. closed its previously announced IPO of 13,699,636 common shares, priced at $11 each.

Shares sold include underwriters' full exercise of their option to buy 1,786,909 additional common shares, at the IPO price.

The La Jolla, Calif.-based company, which develops novel protein therapeutics for pain, infectious diseases, metabolic diseases and cancer, raised gross proceeds of $150.7 million.

Shares sold under the IPO started trading Dec. 7 on the Nasdaq Global Select Market under the symbol THOR.

Jefferies LLC, Leerink Partners LLC and Evercore ISI acted as joint book-running managers for the IPO, with H.C. Wainwright & Co. LLC as lead manager.

The company previously said net proceeds will be used to fund research and development of its IL-2 synthorins, which target cancer and autoimmune disorders, as well as other development programs, and for working capital and other general corporate purposes.