Fusion Pharmaceuticals proposes to issue 8.35M shares priced US $14-16

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By CPE News

CPE Mews (6/22/2020) – Fusion Pharmaceuticals Inc. said it plans to issue 8.35 million shares priced at US $14 to US $16 per share in connection with its proposed initial public offering (IPO) on the Nasdaq.

Fusion Pharmaceuticals Inc. has granted the underwriters an over-allotment option for additional 1,252,500 common shares.

Fusion’s IPO offering size and price may increase due to higher than usual investor demands.

Repare Therapeutics (NASDAQ: RPTX), another major Canadian biotech company which filed for confidential IPO on the same day as Fusion did, had intended to issue 7,352,941 common shares at between US $16-18 per share. Repare upsized the offering and issued 11 million shares at US $20 per share.

Fusion Pharmaceuticals has applied to list its common shares on The Nasdaq Global Market under the symbol “FUSN.”

Hamilton, Ontario based Fusion Pharmaceuticals is a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines. Its Targeted Alpha Therapies, or TAT, platform together with its proprietary Fast-Clear linker technology enable the company to connect alpha particle emitting isotopes to antibodies and other targeting molecules in order to selectively deliver the alpha particle payloads to tumors.

Fusion Pharmaceuticals is backed HealthCap Advisor AB, Adams Street Partners, LLC, Johnson & Johnson Innovation – JJDC, Inc., TPG Global, LLC, Varian Medical Systems, Inc., Seroba Life Sciences Management Limited, Genesys Capital, Canada Pension Plan Investment Board (CPP Investments), OrbiMed Advisors LLC, FACIT Inc., Perceptive Advisors LLC, Pivotal bioVenture Partners LLC, and Rock Springs Capital LLC.

photo credit: Fusion Pharmaceuticals