Visterra (VIST) plans to raise $51 million in an initial public offering (IPO) on Friday, January 27th. The company plans to issue 3,900,000 shares at $12.00-$14.00 per share.
In the last twelve months, Visterra generated $15.4 million in revenue and had a net loss of $20.7 million. Visterra has a market-cap of $211.8 million.
Leerink Partners and Stifel acted as the underwriters for the IPO and Needham & Company, Wedbus and PacGrow were co-managers.
Visterra provided the following description of their company for its IPO: “We are a clinical-stage biopharmaceutical company focused on applying our novel Hierotope platform to identify unique disease targets and to design and engineer innovative antibody-based therapies that are intended to be effective as a single-dose administration. We believe that our platform enables us to address the significant unmet need for effective therapies to treat infectious diseases caused by organisms that have a high degree of diversity among strains, frequent mutations and a high prevalence of treatment resistance. Our most advanced product candidate, VIS410, is a monoclonal antibody, or mAb, that we are developing for the treatment of hospitalized patients with influenza A, regardless of the viral strain. “.
Visterra was founded in 2007 and has 42 employees. The company is located at One Kendall Square, Suite B3301, Cambridge, MA 02139, US and can be reached via phone at (617) 498-1070 or on the web at http://www.visterrainc.com.