Morphic Holding Sets IPO at 5 Million Shares; Sees Pricing at $14-$16 Apiece

Date : 06/14/2019 @ 8:04PM
Source : Dow Jones News
Stock : Glaxosmithkline Plc (GSK)
Quote : 1629.8  -2.8 (-0.17%) @ 12:35AM
Glaxosmithkline share price Chart

Morphic Holding Sets IPO at 5 Million Shares; Sees Pricing at $14-$16 Apiece

GlaxoSmithKline (NYSE:GSK)
Historical Stock Chart

1 Year : From Feb 2019 to Feb 2020

Click Here for more GlaxoSmithKline Charts.

By Colin Kellaher


Morphic Holding Inc., a biopharmaceutical company backed by several large drug makers, on Friday said it will sell five million shares in its initial public offering, with an expected price range of $14 to $16 each.

At the $15 midpoint of that range, the Waltham, Mass., company said it expects net proceeds of about $67 million, or roughly $77.4 million if the underwriters exercise their option to buy an additional 750,000 shares.

Morphic said it will have about 29.3 million shares outstanding after the IPO and overallotment option, for a valuation of about $440.2 million at the $15 midpoint.

Morphic, which is working to develop oral small-molecule integrin therapeutics aimed at a range of diseases, said it has raised $248 million through equity financings and collaborations since its inception.

Biotech entrepreneur Timothy Springer, a co-founder of Morphic, will hold an 18.1% stake after the IPO, while GlaxoSmithKline PLC (GSK) will own 8%, Pfizer Inc. (PFE) will hold 7.7% and Novo Nordisk A/S (NVO) will own 6.9%, according to a filing with the Securities and Exchange Commission.

Morphic said it has applied to list its shares on the Nasdaq Global Market under the symbol MORF.


Write to Colin Kellaher at


(END) Dow Jones Newswires

June 14, 2019 07:49 ET (11:49 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

Finance Manila is owned and operated by ADVFN PLC.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:fm D:20200228 06:32:55