RayzeBio, Inc.

General Information
Business:	We are building a vertically integrated radiopharmaceutical therapeutics company with our lead drug candidate, RYZ101, in a Phase 3 clinical trial. (Incorporated in Delaware) Much like antibody drug conjugates emerged as a new and transformative treatment modality in certain cancers, we see an opportunity for innovative radiopharmaceutical therapeutics to follow a similar path. We are initially focused on building a market-leading somatostatin receptor type 2, or SSTR2, franchise. As multiple diagnostic and therapeutic commercial products targeting SSTR2 are available, it is a clinically validated target that is expressed in multiple solid tumors. Our lead drug candidate, RYZ101, is designed to deliver a highly potent alpha particle radioisotope, Actinium 225, or Ac225, to tumors overexpressing SSTR2. RYZ101 consists of DOTATATE, a peptide binder, and a chelator, bound to Ac225. The FDA has approved the use of DOTATATE as the peptide binder for SSTR2 diagnostic imaging and therapeutic agents. We believe that a radiopharmaceutical therapeutic (RPT) using Ac225 has the potential to provide greater efficacy over approved beta particle radioisotope Lutetium 177, or Lu177, therapies. Alpha particles deliver up to 400 times higher energy than beta particles – leading to double-stranded DNA breaks that are lethal to cancer cells. We are enrolling patients in a registrational Phase 3 clinical trial of RYZ101 to treat gasteroenteropancreatic neuroendocrine tumors, or GEP-NETs. Our clinical trial enrollees are patients who have experienced progression of their cancer after Lu177 therapy. We also have an ongoing Phase 1b clinical trial for patients with extensive stage small cell lung cancer, or ES-SCLC. Complementing RYZ101 is our development program targeting Glypican-3, or GPC3, for hepatocellular carcinoma, or HCC, as well as our ongoing discovery efforts. *Note: Revenue and net loss figures are for the 12 months that ended June 30, 2023. (RayzeBio, Inc. upsized its IPO at pricing to 17.28 million shares (17,277,600 shares) – up 20 percent from 14.4 million shares (14,398,000 shares) in the prospectus – and priced the IPO at $18.00 – the top of its $16.00-to-$18.00 range – to raise $311.0 million on Thursday night, Sept. 14, 2023. Background: RayzeBio, Inc. filed its S-1/A dated Sept. 11, 2023, disclosing terms for its IPO: 14.4 million shares – 13.24 million shares from the company and 1.16 million shares from the selling stockholder – at $16.00 to $18.00 – to produce an estimated $244.8 million in combined IPO proceeds, if the IPO is priced at the $17.00 mid-point of its range. RayzeBio expects to receive estimated IPO proceeds of $225.08 million from the sale of its 13.24 million shares, assuming mid-point pricing at $17.00.) (RayzeBio, Inc. filed its S-1 on Aug. 24, 2023, without disclosing terms for its IPO. The company submitted confidential IPO documents to the SEC on Feb. 11, 2022.)
Industry:	Pharmaceuticals
Employees:	88
Founded:	2020
Contact Information
Address	5505 Morehouse Drive, Suite 300 San Diego, CA 92121
Phone Number	(619) 937-2754
Web Address	http://rayzebio.com/
View Prospectus:	RayzeBio, Inc.
Financial Information
Market Cap	$940.37mil
Revenues	$0 mil (last 12 months)
Net Income	$-65.76 mil (last 12 months)
IPO Profile
Symbol	RYZB
Exchange	NASDAQ
Shares (millions):	17.3
Price range	$18.00 - $18.00
Est. $ Volume	$311.0 mil
Manager / Joint Managers	J.P. Morgan/ Jefferies/ Evercore ISI/ Truist Securities
CO-Managers
Expected To Trade:	9/15/2023
Status:	Priced
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

RayzeBio, Inc.

We are building a vertically integrated radiopharmaceutical therapeutics company with our lead drug candidate, RYZ101, in a Phase 3 clinical trial. (Incorporated in Delaware)

Much like antibody drug conjugates emerged as a new and transformative treatment modality in certain cancers, we see an opportunity for innovative radiopharmaceutical therapeutics to follow a similar path.

We are initially focused on building a market-leading somatostatin receptor type 2, or SSTR2, franchise. As multiple diagnostic and therapeutic commercial products targeting SSTR2 are available, it is a clinically validated target that is expressed in multiple solid tumors.

We are enrolling patients in a registrational Phase 3 clinical trial of RYZ101 to treat gasteroenteropancreatic neuroendocrine tumors, or GEP-NETs. Our clinical trial enrollees are patients who have experienced progression of their cancer after Lu177 therapy.

We also have an ongoing Phase 1b clinical trial for patients with extensive stage small cell lung cancer, or ES-SCLC.

Complementing RYZ101 is our development program targeting Glypican-3, or GPC3, for hepatocellular carcinoma, or HCC, as well as our ongoing discovery efforts.

*Note: Revenue and net loss figures are for the 12 months that ended June 30, 2023.

(RayzeBio, Inc. filed its S-1 on Aug. 24, 2023, without disclosing terms for its IPO. The company submitted confidential IPO documents to the SEC on Feb. 11, 2022.)