The IPO Buzz: Biotechs Back in Play

Biotechs are back in play. Two IPOs – Hemab Therapeutics (COAG Proposed) and Seaport Therapeutics (SPTX Proposed)   – launched early Monday to price on Thursday night, April 30, and trade Friday, May 1. Those deals joined Avalyn Pharma (AVLN Proposed) – a pulmonary fibrosis-focused biotech IPO that launched last week. All told, these three biotech IPOs aim to raise $601.1 million.

The biotechs are giving the IPO players something to focus on  – something other than Bill Ackman’s $5 billion closed-end fund deal. (Ackman’s IPO is set to price tonight. You can find the virtual roadshow on RetailRoadshow.)

A small deal – Silver Bow Mining Corp. (SBMT Proposed) – is also set to price tonight – Tuesday, April 28, 2026 – with the intent of raising $50 million. Cantor leads the book-running team. Silver Bow Mining is focused on exploring for gold, silver, zinc, lead and copper on the company’s property in Silver  Bow County, Montana.

Targeting Rare Diseases & Depression  

Biotechs, though, get the top billing on this week’s IPO Calendar. Let’s take a look.

1 Deal Pricing Wednesday Night, April 29, to Trade Thursday, April 30:

Avalyn Therapeutics (AVLN Proposed), based in  Boston, is a biotech pioneering inhaled treatments for rare respiratory diseases – namely, progressive pulmonary fibrosis and idiopathic pulmonary fibrosis  (IPF). The company is not profitable.

In the prospectus, Avalyn Therapeutics (AVLN Proposed) said its leading drug candidate, AP01 , is an inhaled formulation of pirfenidone to treat progressive pulmonary fibrosis (PPF), and its other leading drug candidate, AP02, is an inhaled formulation of nintedanib to treat idiopathic pulmonary fibrosis, or IPF.

Size: 11.8 million shares at $16.00 to $18.00 to raise $200.6 million – if priced at the $17.00 mid-point of its range   Market Cap: $628.07 million

Morgan Stanley, Jefferies, Evercore ISI and Guggenheim Securities are the joint book-runners.

2 Deals Pricing Thursday Night, April 30, to Trade Friday, May 1:

Hemab Therapeutics (COAG Proposed), based in Cambridge, Massachusetts, is taking aim at rare blood clotting disorders: Glanzmann thrombasthenia, Factor VII deficiency and Von Willebrand Disease.  The company is not profitable.

Size: 11.8 million shares at $16.00 to  $18.00 to raise $199.9 million – if priced at the $17.00 mid-point of its range Market Cap: $666.54 million

Goldman Sachs, Jefferies and Evercore ISI are the joint lead book-runners.

RA Capital Management is Hemab’s largest principal shareholder, while Novo Holdings A/S controls the second-largest stake.

In the prospectus, Hemab said it expects to start a Phase 3 clinical trial of sutacimig, also known as HMB-001, to treat Glanzmann thrombasthenia in the second half of 2026.

Hemab is also conducting a Phase 2 clinical trial of HMB-001 to treat patients with Factor VII deficiency, the prospectus said.

The company’s other therapeutic candidate, HMB-002, is in Phase 1/2 trials for Von Willebrand Disease, an inherited blood clotting disorder, the prospectus said. 

Seaport Therapeutics (SPTX Proposed), based in Boston, intends to use the IPO’s proceeds to help fund the Phase 2 clinical trials of its leading drug candidates, GlyphAllo (SPT-300) and GlyphAgo (SPT-320), to treat major depression, including postpartum depression. The company is not profitable.

Size: 11.8 million shares at $16.00 to $18.00 to raise $200.6 million – if priced at the $17.00 mid-point of its range   Market Cap: $861.36 million

Goldman Sachs, J.P. Morgan, Leerink Partners, Citigroup and Stifel are the joint book-runners.

Stay tuned.

(For more information, please check the IPO Calendar and the IPO Profiles found on the IPOScoop.com website.)

Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.

To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.

Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.

Source: https://www.iposcoop.com/the-ipo-buzz-biotechs-back-in-play/