Two biotechs – Alto Neuroscience and Fractyl Health – pumped some warm air into the chilly February IPO Calendar early today. Both companies disclosed IPO terms in S-1/A filings early Monday morning, Jan. 29, 2024. Both IPOs are set for pricing Thursday night, Feb. 1, 2024, to trade Friday, Feb. 2, 2024: Alto Neuroscience (ANRO proposed) on the New York Stock Exchange and Fractyl Health (GUTS proposed) on the NASDAQ.
Alto Neuroscience (ANRO proposed), a clinical biotech developing psychiatric drugs, plans to offer 6.7 million shares at $14.00 to $16.00 to raise $100.5 million.
Jefferies, TD Cowen, Stifel, William Blair and Baird are the joint book-runners of Alto Neuroscience’s IPO.
Fractyl Health (GUTS proposed), a metabolic therapeutics company targeting Type 2 diabetes and obesity, plans to offer 7.33 million shares at $14.00 to $16.00 to raise $109.95 million.
BofA Securities, Morgan Stanley and Evercore ISI are the joint book-runners of Fractyl Health’s IPO.
Alto Neuroscience, Inc., based in Los Altos, California, is using brain-based biomarkers to develop drugs to treat major depression and schizophrenia, the prospectus says.
Fractyl Health, based in Lexington, Massachusetts, is pioneering an ablation treatment of the duodenal mucosa as a metabolic therapy targeting Type 2 diabetes and obesity, according to the prospectus. Fractyl Health is also developing an adeno-associated virus (AAV) as a pancreatic gene therapy to treat the pancreatic islet cells of patients with Type 2 diabetes and obesity.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.