BOULDER, Colo. — Boulder-based Edgewise Therapeutics Inc., a clinical-stage biopharmaceutical company, has plans to go public.
The company was launching an initial public offering of 11 million shares of its common stock at a price of $16 per share. The shares were expected to trade on the Nasdaq Global Select Market under the ticker symbol “EWTX.” Trading was slated to begin Friday, and the offering is planned to close on March 30.
Edgewise expected gross proceeds of about $176 million from the offering. It anticipates net proceeds to be $137 million, according to its S-1 filing with the U.S. Securities and Exchange Commission.
> Video above: How Colorado's San Miguel County is able to test so many residents, with help from a biotech company
The biotech company said the funds raised from the offering will go to supporting operations, establishing a public market for its stock and facilitating future access to public capital. Specifically, it plans to allocate about $80 million to fund the development of its lead product candidate, approximately $55 million to fund the research and development of some of its other programs and the remainder of the capital to other expenses and research.
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