Ambrx (AMAM) IPO Opens Flat

Today's IPO for Ambrx (NYSE: AMAM) opened for trading at $18 after pricing 7,000,000 American depositary shares (ADSs), each representing seven ordinary shares, at a public offering price of $18.00 per ADS.

Goldman Sachs & Co. LLC, BofA Securities and Cowen are acting as joint book-running managers for the offering.

Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics. These include next generation antibody drug conjugates (ADCs), bispecifics, targeted immuno-oncology therapies, novel cytokines to modulate the immune system, and long-acting therapeutic peptides for metabolic and cardiovascular disease. Ambrx is advancing a robust portfolio of clinical and preclinical programs designed to optimize efficacy, safety and ease of use, in multiple therapeutic areas, including its lead product candidate ARX788. In addition, the company has clinical collaborations with Bristol Myers Squibb, Astellas, BeiGene, Sino Biopharma, Elanco and NovoCodex, for drug candidates generated using Ambrx technology.

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