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Finance Watch: Third Harmonic Attempts A Flight Through The IPO Window

Could Be First $100m-Plus First-Time Offering Since May

 
• By Mandy Jackson

Public Company Edition: Third Harmonic hopes to double its money, raising up to $150m. Also, Halozyme priced a $625m note sale to retire debt and repurchase shares, while Viridian raised $270m in an offering after positive early data, and Clarus cut jobs while Endo finalized a restructuring plan.

Finance Watch Public Company
• Source: Alamy

Third Harmonic Bio Inc. could be the first biopharmaceutical company to launch an initial public offering in the US since the end of July and deliver the first biopharma IPO to raise more than $100m since May. The start-up filed a registration statement with the US Securities and Exchange Commission on 23 August, just six months after it came out of stealth mode with $155m in series A and B financing.

Cambridge, MA-based Third Harmonic did not disclose how much money it intends to raise, but according to the IPO-tracking firm Renaissance Capital it is seeking up to $150m. The company only came out of stealth mode in February, revealing that it closed a $105m series B venture capital round, which followed a $50m series A financing in 2019

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