Third Harmonic Bio Announces Closing of Upsized Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares
Rhea-AI Summary
Third Harmonic Bio (Nasdaq: THRD) has closed its initial public offering of 12,535,000 shares at $17.00 per share, raising approximately $213.1 million in gross proceeds. This includes the full exercise of the underwriters' option for an additional 1,635,000 shares. The shares began trading on the Nasdaq Global Market on September 15, 2022. Morgan Stanley, Jefferies, and Cowen acted as joint bookrunning managers for this offering, which aims to support the development of its lead product, THB001, a selective oral KIT inhibitor for severe inflammatory diseases.
Positive
- Raised approximately $213.1 million in gross proceeds from the IPO.
- The offering supports development of THB001, a promising treatment for inflammatory diseases.
Negative
- None.
News Market Reaction – THRD
On the day this news was published, THRD declined 1.18%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CAMBRIDGE, Mass., Sept. 19, 2022 (GLOBE NEWSWIRE) -- Third Harmonic Bio, Inc. (Nasdaq: THRD), a clinical-stage biopharmaceutical company developing a potent, highly selective, oral KIT inhibitor for the treatment of severe inflammatory diseases, today announced the closing of its initial public offering of 12,535,000 shares of its common stock, including the full exercise of the underwriters’ option to purchase up to 1,635,000 additional shares of common stock, at a public offering price of
Morgan Stanley, Jefferies and Cowen acted as joint bookrunning managers for the offering. LifeSci Capital acted as co-manager for the offering.
Registration statements relating to these securities have been filed with the Securities and Exchange Commission and became effective on September 14, 2022. The offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014 or by email at prospectus@morganstanley.com; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, by telephone at (833) 297-2926, or by email at PostSaleManualRequests@broadridge.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other 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 Third Harmonic Bio, Inc.
Third Harmonic Bio is a clinical-stage biopharmaceutical company focused on advancing the next wave of medicine for allergy and inflammation. The company’s lead product candidate, THB001, is a highly selective, oral small-molecule inhibitor of KIT, a cell surface receptor that serves as the master regulator of mast cell function and survival. THB001 is currently being evaluated in a Phase 1b proof-of-concept study in chronic inducible urticaria. With promising drug-like properties and an encouraging early clinical profile, THB001 has the potential to revolutionize the treatment of a broad range of dermatologic, respiratory and gastrointestinal allergic and mast-cell-mediated inflammatory diseases.
Media Contact:
Lori Murray
lori.murray@captivate-comms.com
Investor Contact:
Bob Ho
rho@thirdharmonicbio.com
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