Pandion Therapeutics (Nasdaq: PAND) successfully completed its IPO in July 2020, raising approximately $153 million in gross proceeds. The company reported a cash position of $105.7 million as of June 30, 2020, significantly up from $16 million at the end of 2019. R&D expenses increased to $8.9 million in Q2 2020, as they prepare for Phase 1b/2a trials of their lead product candidate, PT101. The company now has a U.S. patent for bifunctional molecules derived from their TALON™ platform and has appointed Dr. John S. Sundy as Chief Medical Officer.
Pandion Therapeutics (Nasdaq: PAND) announced its initial public offering (IPO) pricing of 7,500,000 shares at $18.00 each, raising $135.0 million. The IPO is set to commence trading on the Nasdaq Global Market on July 17, 2020, with the offering expected to close on July 21, 2020, subject to customary conditions. Underwriters have a 30-day option to purchase an additional 1,125,000 shares. Goldman Sachs, Morgan Stanley, and SVB Leerink are leading the offering. Pandion is focused on developing therapies for autoimmune diseases, with its lead candidate PT101 in Phase 1a trials.