Boundless Bio Announces Pricing of Initial Public Offering

Rhea-AI Summary

Boundless Bio, Inc. (Nasdaq: BOLD) announces pricing of its IPO, offering 6,250,000 shares at $16.00 per share, expecting gross proceeds of $100.0 million. The company's common stock will trade under the ticker symbol 'BOLD' on Nasdaq. The offering is set to close on April 2, 2024, with underwriters having an option to purchase additional shares.

Financial Analyst

The announcement of Boundless Bio's initial public offering (IPO) at $16.00 per share, with an expectation to raise $100 million, is a significant event for investors and the market. This IPO represents a strategic move to fund the company's research and development activities, particularly in the challenging field of oncogenically amplified cancers. The company's focus on extrachromosomal DNA (ecDNA) highlights its commitment to novel cancer therapies, which could disrupt the oncology market if successful.

Investors should note the potential for volatility in biotech IPOs, as market sentiment can swing based on clinical trial outcomes and regulatory news. The underwriters' pedigree, including Goldman Sachs and Leerink Partners, suggests a vote of confidence in Boundless Bio's prospects. However, the long-term return will heavily depend on the company's ability to successfully navigate clinical trials and bring products to market.

Medical Research Analyst

Boundless Bio's work on extrachromosomal DNA (ecDNA) is a pioneering approach in oncology. ecDNA are circular units of DNA outside chromosomes that can drive high levels of gene amplification, leading to aggressive cancer growth. Targeting ecDNA could offer a new therapeutic pathway for treating cancers that are resistant to current treatments. The successful translation of this research into viable treatments could make a substantial impact on the oncology sector and position Boundless Bio as a leader in precision medicine.

It's important for stakeholders to understand the inherent risks associated with clinical-stage biotech firms. The path from research to market is fraught with scientific, regulatory and financial hurdles. The IPO funds will likely support ongoing and future clinical trials, which are pivotal in determining the company's future. The outcome of these trials will be a key driver of the company's stock performance.

Market Research Analyst

The biotechnology sector is known for its high growth potential and Boundless Bio's entry into the market via an IPO is a testament to the industry's dynamism. With the IPO, the company is not only seeking capital but also public validation and visibility. The pricing of the IPO at $16.00 per share will set a benchmark for the company's valuation and the market's reception of the stock will serve as an indicator of investor confidence in biotech innovation.

While the IPO provides an immediate influx of capital, it's important to consider the competitive landscape. Boundless Bio will be vying for market share against established pharmaceutical companies and other biotech startups. The ability to differentiate through unique ecDNA-targeted therapies could be a game-changer, but the company must also navigate market dynamics, such as pricing pressures and reimbursement challenges.

SAN DIEGO--(BUSINESS WIRE)-- Boundless Bio, Inc. (Nasdaq: BOLD), a clinical stage oncology company interrogating extrachromosomal DNA (ecDNA) biology to deliver transformative therapies to patients with previously intractable oncogene amplified cancers, today announced the pricing of its initial public offering of 6,250,000 shares of its common stock at an initial public offering price of $16.00 per share. All of the shares are being offered by Boundless Bio. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be $100.0 million. Boundless Bio’s common stock is expected to begin trading on the Nasdaq Global Select Market on March 28, 2024 under the ticker symbol “BOLD.” The offering is expected to close on April 2, 2024, subject to the satisfaction of customary closing conditions. In addition, Boundless Bio has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Leerink Partners, Piper Sandler and Guggenheim Securities are acting as joint book-running managers for the offering.

A registration statement relating to the offering has been filed with the Securities and Exchange Commission and was declared effective on March 27, 2024. The offering is being made only by means of a prospectus. When available, copies of the final prospectus may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, or by email at Prospectus-ny@ny.email.gs.com; Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03 Minneapolis, MN 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Boundless Bio

Boundless Bio is a clinical-stage oncology company dedicated to unlocking a new paradigm in cancer therapeutics to address the significant unmet need of patients with oncogene amplified tumors by targeting extrachromosomal DNA (ecDNA), a root cause of oncogene amplification and observed in more than 14% of cancer patients. Boundless Bio is developing the first ecDNA-directed therapy (ecDTx), BBI-355, which is an oral inhibitor of checkpoint kinase 1 (CHK1) and is being evaluated in a Phase 1/2 clinical trial in patients with oncogene amplified cancers. Boundless Bio’s second ecDTx, BBI-825, is an oral inhibitor of ribonucleotide reductase (RNR) and recently entered a Phase 1/2 clinical trial in cancer patients with resistance gene amplifications. Leveraging its Spyglass platform, Boundless Bio has additional programs advancing through preclinical development and discovery. Boundless Bio is headquartered in San Diego, CA.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240327704934/en/

James Lee, Boundless Bio

jlee@boundlessbio.com

Media

1AB

Dan Budwick

dan@1abmedia.com

Source: Boundless Bio

FAQ

What is the ticker symbol for Boundless Bio, Inc. after its IPO?

The ticker symbol for Boundless Bio, Inc. after its IPO is 'BOLD' on Nasdaq.

How many shares are being offered in Boundless Bio's IPO?

Boundless Bio is offering 6,250,000 shares in its IPO.

What is the expected gross proceeds from Boundless Bio's IPO?

The expected gross proceeds from Boundless Bio's IPO are $100.0 million.

When is the expected closing date for Boundless Bio's IPO?

The expected closing date for Boundless Bio's IPO is April 2, 2024.

Which firms are acting as joint book-running managers for Boundless Bio's IPO?

Goldman Sachs & Co. , Leerink Partners, Piper Sandler, and Guggenheim Securities are acting as joint book-running managers for Boundless Bio's IPO.