Stealth Biotherapeutics (MITO) IPO Opens Flat

Today's IPO for Stealth Biotherapeutics (NASDAQ: MITO) opened for trading at $12.10 after pricing 6,500,000 American Depositary Shares, each representing 12 ordinary shares of Stealth, at an initial public offering price of $12.00 per ADS.

In addition, Stealth has granted the underwriters a 30-day option to purchase up to an additional 975,000 ADSs on the same terms and conditions.

Jefferies LLC, Evercore Group L.L.C. and BMO Capital Markets Corp. are acting as joint book-running managers for the offering. Nomura Securities International, Inc. is acting as the lead manager for the offering.

About Stealth

We are a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel therapies for diseases involving mitochondrial dysfunction. Mitochondria, found in nearly every cell in the body, are the body's main source of energy production and are critical for normal organ function. Dysfunctional mitochondria characterize a number of rare genetic diseases, collectively known as primary mitochondrial diseases, and are also involved in many common age-related diseases. We believe our lead product candidate, elamipretide, has the potential to treat both rare genetic and common age-related mitochondrial diseases. We are studying elamipretide in the following primary mitochondrial diseases: primary mitochondrial myopathy, Barth syndrome and Leber's hereditary optic neuropathy. We are also studying elamipretide in dry age-related macular degeneration. Our other pipeline candidates include SBT-20, which we are evaluating for rare peripheral neuropathies, and SBT-272, which we are evaluating for rare neurodegenerative disease indications. We have optimized our discovery platform to identify novel mitochondrial-targeted compounds, which may be nominated as therapeutic product candidates or utilized as scaffolds to deliver other compounds to mitochondria. Our mission is to be the leader in mitochondrial medicine, and we have assembled a highly experienced management team, board of directors and group of scientific advisors to help us achieve this mission.

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