A return in the U.S. initial public offering market is underway, driven by projections of further interest rate decreases and less market volatility. (Representational image: Unsplash) 
Pharmacy

Zenas Biopharma to File for a US IPO, Backed by Bristol-Myers Squibb

Zenas BioPharma, supported by Bristol-Myers Squibb, has submitted an application to go public in the US, according to a regulatory filing on Thursday

Priyanka Pandey

Zenas BioPharma, supported by Bristol-Myers Squibb, has submitted an application to go public in the US, according to a regulatory filing on Thursday, indicating growing investor interest in new listings.

Zenas BioPharma, supported by Bristol-Myers Squibb, has submitted an application to go public in the US, according to a regulatory filing on Thursday, indicating growing investor interest in new listings.

A return in the U.S. initial public offering market is underway, driven by projections of further interest rate decreases and less market volatility.

Since its founding, Zenas BioPharma, a biopharma business focused on inflammation and immunology, has raised $358.3 million from investors.

Tellus BioVentures, Fairmount, Norwest Venture Partners, Enavate Sciences, and Bristol-Myers Squibb are among the investors in the company. (Representational image: Unsplash)
Also read:Ahmedabad Reports 345 Cases of Dengue and 35 Cases of Chikungunya in August

Tellus BioVentures, Fairmount, Norwest Venture Partners, Enavate Sciences, and Bristol-Myers Squibb are among the investors in the company.

For the six months that concluded on June 30, the company lost $65.8 million as opposed to $48.1 million in the same period last year. The quantity of shares it intended to sell and the suggested price range were not disclosed.

The company anticipates using the ticker symbol "ZBIO" to trade its shares on the Nasdaq Global Market. The underwriters include Guggenheim Securities, Jefferies, Morgan Stanley, and Citigroup.

(Input from various sources)

(Rehash/Priyanka Pandey/MSM)

Also read:Director of AIIMS Puts Safety and Security First and Makes Pleas to Striking Doctors

Also Read

FDA Warns: Faulty Glucose Monitors Linked to Possibly 7 Deaths and 736 Injuries

‘From Guinea Pigs to Co-Researchers’: How PACER (Patient Advocates for Research) Is Building India’s First Real Patient-Voice Movement

People With Dyspraxia Are at High Risk of Falling and It’s Too Often Overlooked

Mount Sinai Obstetricians First in New York City to Use FDA-Approved AI Tool That Enhances Fetal Screenings for Congenital Heart Defects

IIT-Bombay Study Reveals How TB Bacteria Outsmart Antibiotics by Reinforcing Their Fatty Outer Coat