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Finance Watch: Phathom IPO Meets Pricing Goal; Cabaletta, TFF Offerings Go Low

 
• By Mandy Jackson

Public Company Edition: Phathom went public in the US within proposed pricing terms, but Cabaletta’s IPO went to market below a proposed range, while TFF launched in line with earlier plans. Also, Principia’s FOPO raises $210m and Trillium restructures.

Finance Watch

Three biopharmaceutical companies went public in the US on 24 October with different results – Phathom Pharmaceuticals Inc. priced its initial public offering at $19 per share, within a proposed $18 to $20 range, while Cabaletta Bio Inc. launched its IPO well below a proposed $14 to $16 range at $11, and TFF Pharmaceuticals Inc. took a small offering to market and gave investors a small return in its first day of trading.

The pricing dynamics reflect the differences in the companies’ research and development pipelines with Phathom’s lead drug candidate vonoprazan set...

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