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PNRB > Principia Biopharma IPO priced at $17 scheduled to trade today...

IPO Alert: Strong Order Book For Principia Biopharma IPO

Principia IPO Update
Per IPO Boutique, Principia’s book build status looks quite strong,

Channel checks just completed, according to underwriter guidance the deal is well-oversubscribed. The underwriter states that the books close Wednesday (9/12) at 4pm in anticipation for a Friday (9/14) debut.

Looking at the prospectus, there is insider interest in purchasing up to $26.0m in this offering which would represent 34.6% of the offering if priced at the midpoint of the range. This company has collaborations with Genzyme Corp (a subsidiary of Sanofi), Sanofi (SNY) itself and AbbVie BioTechnologies (ABBV).

The notable backers are a very strong list which includes Baker Bros., Morgenthaler Ventures, New Leaf Ventures, OrbiMed Private Investments, S.R. One and Sofinnova Venture. It is our opinion that this IPO will likely be the deal of the week.

S-1

We are a clinical-stage biopharmaceutical company dedicated to bringing transformative oral therapies to patients with significant unmet medical needs in immunology and oncology. Our proprietary Tailored Covalency® platform enables us to design and develop reversible covalent and irreversible covalent, small molecule inhibitors with potencies and selectivities that we believe will rival those of injectable biologics, yet maintain the convenience of a pill. We have produced three new drug candidates from our platform, resulting in four clinical programs in our first seven years of operation. We plan to advance our lead program, PRN1008, a wholly owned Bruton’s Tyrosine Kinase, or BTK, inhibitor, into a pivotal Phase 3 trial for the treatment of pemphigus by the end of 2018. We retain full, worldwide rights to our most advanced programs, PRN1008 and PRN1371, and have established ongoing collaborations with Genzyme Corporation, a Sanofi company, or Sanofi, and AbbVie Biotechnology Limited, or AbbVie, for our other programs.