We are a biotechnology company pioneering a precision medicine approach to the discovery, development and commercialization of novel therapeutic and companion diagnostic products to treat inflammatory bowel disease (IBD). We leverage our proprietary precision medicine platform, Prometheus360™, which includes one of the world’s largest gastrointestinal (GI) bioinformatics databases, to identify novel therapeutic targets and develop therapeutic candidates to engage those targets. In parallel, we are developing companion diagnostic tests designed to identify patients more likely to respond to our therapeutic candidates.
We have generated a robust initial pipeline of therapeutic development programs for the treatment of IBD. Our lead product candidate, PRA023, is an IgG1 humanized monoclonal antibody (mAb) that has been shown to block the tumor necrosis factor (TNF)-like ligand 1A (TL1A), a target associated with both intestinal inflammation and fibrosis that was clinically validated in a third-party Phase 2a clinical trial in ulcerative colitis (UC). PRA023 has the potential to substantially improve outcomes for moderate-to-severe IBD patients who are predisposed to increased TL1A expression. We are developing PRA023 to treat UC and Crohn’s disease (CD). We initiated a Phase 1a clinical trial in normal healthy volunteers in December 2020. Our goal is to revolutionize IBD treatment with a precision medicine approach for patients with significant unmet medical needs.
(Note: Prometheus BioSciences upsized its IPO at pricing on March 11, 2021, to 10 million shares, up from its just increased size of 9 million, at $19 – the top of its upwardly revised range of $18 to $19. The company increased the size of its IPO to 9 million shares, up from 7.35 million shares, and raised the price range to $18 to $19, up from $16 to $18, in an S-1/A filing disclosed early in the day on March 11, 2021.)
|Address||9410 Carroll Park Drive San Diego, California 92121|
|View Prospectus:||Prometheus Biosciences|
|Revenues||$1.2 mil (last 12 months)|
|Net Income||$-37.14 mil (last 12 months)|
|Price range||$19.00 - $19.00|
|Est. $ Volume||$190.0 mil|
|Manager / Joint Managers||SVB Leerink/Credit Suisse/Stifel/Guggenheim Securities|
|Expected To Trade:||3/12/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|