You might want to put the Nabriva Therapeutics initial public offering (IPO) on your list of upcoming IPOs to watch, because the company is set to soar on its U.S. debut.
Based out of Vienna, Austria, Nabriva Therapeutics is a clinical-stage biopharmaceutical firm which currently engages in the research and development of new anti-infective agents used in the treatment of serious infections.
The Bottom Line on Nabriva Therapeutics IPO
Nabriva Therapeutics (NASDAQ:NBRV) filed its plan for a U.S. IPO with the Securities and Exchange Commission (SEC). The date is set for September 18, 2015. (Source: SEC, last accessed September 15, 2015.)
The Nabriva Therapeutics IPO will be trading its shares on the NASDAQ Global Market, using the symbol “NBRV.”
What Does Nabriva Theraputics Do?
After having raised more than $120 million through a private stock sale earlier this year, Nabriva is currently developing a new class of antibiotics referred to as pleuromutilins. (Source: The Wall Street Journal, last accessed September 15, 2015.) These are used in the treatment of bacterial infections.
Nabriva’s leading new drug candidate is Lefamulin, currently in late-stage clinical development and testing. This drug has an extremely high potential as a treatment for community-acquired bacterial pneumonia.
According to its SEC filing, the purpose of the Nabriva Therapeutics IPO is for the company to continue clinical development of Lefamulin; to fund corporate activities, and also to help repay its outstanding debts.
As of June 30, 2015, Nabriva Therapeutics held cash and cash equivalents of $38.9 million. (Source: Philadelphia Business Journal, last accessed September 15, 2015.) The company’s debt stood at $4.3 million, held under a loan agreement with Kreos Capital Ltd.
The company’s 42 employees are organized and led by industry veteran Colin Broom, CEO and former high-level ViroPharma executive.
The Nabriva Therapeutics IPO will aim to raise $96.0 million, with a market cap of $268 million. (Source: 24/7 Wall Street, last accessed September 15, 2015.) Stocks in the biopharmaceutical company will be trading at an estimated midpoint of $18.00 per share.
The underwriters for the Nabriva Therapeutics IPO are RBC Capital Markets, Leerink Partners, Wedbush PacGrow, and Needham.
Nabriva therapeutics has strong possibilities within its industry, with exciting new drugs that have high upside marketing potential. Right now, however, it’s running on just that—potential.
Its financials at first glance seem to be in disarray, but it’s important to remember that emerging companies in the medical field often run huge losses as they lead up to their IPO. Research and development of drugs and medical equipment takes a great deal of time and money, and profit can only be regained after a considerable amount of time has passed.
It’s for this reason that Nabriva has lost $15.8 million, with total assets of $42,744,000. (Source: NASDAQ, last accessed September 15, 2015.)