x
Breaking News
More () »

Denver's Leading Local News: Weather, Traffic, Sports and more | Denver, Colorado | 9NEWS.com

Boulder biotech firm plans IPO, could raise $137 million or more

The lead product is orally administered and addresses the root cause of Duchenne muscular dystrophy (DMD) and Becker muscular dystrophy (BMD.)

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.

>> Read the full story on the Denver Business Journal

RELATED: Japanese prime minister expects to invite Biden to Tokyo Olympics

RELATED: Gun used by alleged grocery store shooter was technically a pistol, according to affadavit

SUGGESTED VIDEOS: Local stories from 9NEWS 

MORE WAYS TO GET 9NEWS 

Subscribe to our daily 9NEWSLETTER for top stories from 9NEWS curated daily just for you. Get content and information right now for can’t-miss stories, Next and Broncos content, weather and more delivered right to your inbox.   

DOWNLOAD THE 9NEWS APP 


iTunes: http://on9news.tv/itunes
Google Play: http://on9news.tv/1lWnC5n  

HOW TO ADD THE 9NEWS APP TO YOUR STREAMING DEVICE 

ROKU: add the channel from the ROKU store or by searching for KUSA. 

For both Apple TV and Fire TV, search for "9news" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.