IPO Filing for G1 Therapeutics

It seems that biotech companies have started making a comeback on the IPO stage if G1 Therapeutics is any indication. The company is a clinical biotechnology company that deals with the development of new therapeutic solutions for cancer. It filed for an IPO with the SEC on 13th April to raise up to $115 million.

Company Bio

In their SEC filed prospectus, G1 Therapeutics, Inc. describes itself as a biopharmaceutical company with a narrow focus on discovering and developing new therapeutics for the treatment of cancer. The company claims to have two clinical assets that rely on its understanding of cyclin-dependent kinases (CDKs). G1 Therapeutics states that two CDKs (CDK4 and CDK6) show a lot of promise in yielding anti-cancer treatments. The company has developed two CDK 4/6 inhibitors that may be used in many different types of cancer.

G1’s ace in the hole is that it claims to be the only company with clinical stage CDK 4/6 inhibitors, trilaciclib, and G1T38, which show promise of being used in multiple combination regimens.

IPO Stock Information

G1 states that the money received from the IPO will be directed to the further development of these two CKD 4/6 inhibitors (trilaciclib and G1T38) as well as G1T48. Trading on NASDAQ will be under the stock symbol GTHX.

G1 owns an exclusive license to G1T48, and it owns or exclusively licenses and controls the worldwide commercial rights to each of their therapeutic solutions. The company also owns or holds the exclusive rights to about 120 U.S and international patents (in addition to having pending patent applications) that cover their product development programs. As a bonus, G1T48 promises to be useful in the treatment of breast cancer, especially under a proprietary combination of G1T38 and G1T48.

Company Strategy

G1 has a goal of being the alpha male when it comes to the discovery and development of CDK4/6 therapeutic interventions for cancer. The key planks of the company’s strategy (as outlined in its prospectus) include:

  1. Developing trilaciclib with chemotherapy that can be used in multiple indications for cancer
  2. Developing trilaciclib together with immune checkpoint inhibitors so as to come up with more effective therapeutic treatments for cancer
  3. To focus on G1T38 and develop it to be the best-in-class treatment for many CDK4/6 dependent cancers
  4. Ensure that G1T48 has advanced to clinical trials so that it can be used together with G1T3
  5. Focus on building a fully integrated oncology company that will provide solutions to one of humanity’s most vexing disease.

 

Underwriters

Since its confidential filing on February 5th, 2017, J.P.Morgan, Cowen & Company, Needham & Co., and Wedbush Securities have been identified as the IPO underwriters.