MORF Stock Price | Morphic Holding Inc. Stock Quote (U.S.: Nasdaq)

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Morphic Holding sets terms of IPO to raise up to $80 million

Morphic Holding Inc. set terms of its initial public offering, in which the Waltham, Mass.-based biopharmaceutical company focused on developing treatments for chronic diseases looks to raise up to $80 million. The company said it is offering 5 million shares, with the IPO expected to price between $14 and $16 a share, which would give Morphic an initial market capitalization of up to $457.5 million. The company expects the stock to list on the Nasdaq under the ticker symbol “MORF.” The lead underwriters are Jefferies, Cowen, BMO Capital Markets and Wells Fargo Securities. Morphic recorded a net loss of $23.8 million on total collaboration revenue of $3.4 million in 2018, after a loss of $16.9 million on no revenue in 2017. The company is looking to go public at a time the Renaissance IPO ETF has edged up 2.3% over the past three months, the iShares Nasdaq Biotechnology ETF has lost 8.1% and the S&P 500 has gained 2.7%.






Source : MTV