Edgewise Therapeutics (EWTX) IPO Opens 69% Higher
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Today's IPO for Edgewise Therapeutics, Inc. (NASDAQ: EWTX) opened for trading at $27 after pricing 11,000,000 shares of its common stock at a public offering price of $16.00 per share.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC and SVB Leerink LLC are acting as joint book-running managers for the offering. Wedbush Securities Inc. is acting as co-manager for the offering.
Edgewise Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for severe, rare muscle disorders for which there is significant unmet medical need. Guided by its holistic drug discovery approach to targeting the muscle as an organ, Edgewise has combined its foundational expertise in muscle biology and small molecule engineering to build its proprietary, muscle focused drug discovery platform. Edgewise’s platform utilizes custom-built high throughput and translatable systems that measure integrated muscle function in whole organ extracts to identify small molecule precision medicines regulating key proteins in muscle tissue, initially focused on addressing rare neuromuscular and cardiac diseases.
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