CinCor Pharma, a clinical-stage biopharmaceutical company, announced the pricing of its initial public offering (IPO) of 12,100,000 shares at $16.00 per share, aiming for gross proceeds of $193.6 million. The shares will trade on the Nasdaq under the symbol 'CINC', starting January 7, 2022. The underwriters have a 30-day option to purchase an additional 1,815,000 shares. Morgan Stanley, Jefferies, and Evercore ISI are the joint book-running managers for the offering. This IPO is crucial for funding the development of CinCor's lead candidate, CIN-107, targeting hypertension and cardio-renal diseases.
CinCor Pharma has initiated an initial public offering (IPO) of 11,000,000 shares of its common stock, with an expected pricing range of $15 to $17 per share. The offering aims to support the development of CIN-107, a candidate for treating hypertension and cardio-renal diseases. Additionally, the underwriters may purchase up to 1,650,000 additional shares. Shares will trade on NASDAQ under the symbol CINC. The offering's completion is subject to market conditions.