Global Blood Therapeutics IPO: Everything You Need to Know

Global Blood Therapeutics IPOGlobal Blood Therapeutics is going public on Wednesday August 12th. Here’s what investors need to know about its initial public offering (IPO). (Source: The Securities and Exchange Commission, July 31, 2015.)

Who is Global Blood Therapeutics?

Global Blood Therapeutics is a biopharmaceutical company committed to developing treatments for blood-based disorders. The company is currently focusing on the development of its initial product candidate, GBT440, a once-daily oral prophylactic therapy for sickle cell disease (SCD).

What is Global Blood Therapeutics’ Revenue?

Because Global Blood Therapeutics is still in the developing stage of the treatment, it has not generated any revenue since its inception. The company financed its operations entirely through equity securities and convertible debt.

Net losses for 2013 and 2014 were $18.1 million and $20.8 million, respectively. In the first quarter of 2015, net loss was $7.4 million. The company had an accumulated deficit of $57.7 million by March 31, 2015.

The company believes that there is a significant market opportunity in treatments for SCD. The U.S. Centers for Disease Control estimates the prevalence of SCE in the U.S. to be between 90,000 and 100,000 individuals. Globally, incidence of SCD is estimated to be between 250,000 and 300,000 births annually.

What is Global Blood Therapeutics’ IPO Price?

Global Blood Therapeutics expects its shares to be priced between $16.00 and $18.00 apiece.

What is Global Blood Therapeutics’ Stock Symbol?

Global Blood Therapeutics plans to list its shares on the NASDAQ Global Market under the ticker symbol “GBT.”

How Much Money Will Global Blood Therapeutics’ IPO Raise?

Global Blood Therapeutics plans to issue six million shares. At share prices between $16.00 and $18.00 a share, the IPO would raise $102 million at midpoint.

How will Global Blood Therapeutics Use the Money?

Global Blood Therapeutics intends to use the net proceeds from the IPO along with its existing cash to fund the clinical development of GBT440 for the treatment of SCD; to conduct clinical trials of GBT440; and to complete and file an IND and begin a phase two clinical trial of an oral kallikrein inhibitor to treat HAE.

What is Global Blood Therapeutics’ IPO Date?

Global Blood Therapeutics is expected to go public on Wednesday August 12, 2015.