What's On The Healthcare IPO Calendar Friday?

(RTTNews) - The IPO activity in the U.S. healthcare sector, which has been somewhat tepid in the last two months, is picking up pace . Let's take a look at the IPOs scheduled for tomorrow.

1. Calliditas Therapeutics

Stockholm, Sweden-based Calliditas Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for renal and hepatic diseases.

The company is scheduled to list its American Depositary Shares, or ADSs on the Nasdaq Global Select Market under the symbol "CALT" on June 5, 2020. Calliditas is traded on the Swedish stock exchange under the symbol CALTX.

Calliditas Therapeutics has offered to sell 7.59 million ADSs in the offering, and the underwriters have an option for 30 days to purchase an additional 1.14 million ADSs. The initial public offering price is expected to be $19.77 per ADS. If the underwriters exercise their option in full, the company estimates that the net proceeds from the offering, after expenses, will be $76.5 million.

Underwriters of the IPO:

Citigroup Global Markets Inc., Jefferies LLC Stifel, Nicolaus & Company, Inc.

Pipeline:

The Company's lead product candidate, Nefecon, is a proprietary, novel oral formulation of budesonide, is currently in phase III trial for the treatment of IgA nephropathy, or IgAN, an autoimmune renal disease.

The company is also exploring the potential of advancing applications of Nefecon in other autoimmune diseases such as primary biliary cholangitis, or PBC, and autoimmune hepatitis, or AIH.

Near-term Catalysts:

- Topline data readout from the phase III trial of Nefecon for IgAN is expected in the fourth quarter of 2020. If all goes well, the management expects to seek approval for Nefecon in the U.S and Europe in the first half of 2021.

- The company intends to discuss with the FDA the development plans for Nefecon in the indications of autoimmune hepatitis and primary biliary cholangitis this year and in the first quarter of 2021, respectively.

2. Legend Biotech

Somerset, New Jersey-based Legend Biotech is a clinical-stage biopharmaceutical company developing novel cell therapies for CAR-T immuno-oncology and other indications.

The company, whose majority shareholder is China's Genscript Biotech Corp., plans to debut on the Nasdaq Global Market, under the symbol "LEGN" on June 5, 2020.

Legend Biotech has offered to sell 18.425 million American Depositary Shares or ADSs in the offering at an expected price of between $18.00 and $20.00 per ADS, and the underwriters have an option for 30 days to purchase up to 2.764 million additional ADSs.

Genscript Biotech has agreed to purchase shares of up to $12.0 million in a concurrent private placement at the IPO price.

Underwriters of the IPO:

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Jefferies LLC

Pipeline:

-The company's lead product candidate, LCAR-B38M/JNJ-4528, is a CAR-T cell therapy being jointly developed with Janssen Biotech for the treatment of multiple myeloma.

LCAR-B38M refers to the product candidate being studied in China, and JNJ-68284528, or JNJ-4528, refers to the product candidate being studied in the rest of the world.

LCAR-B38M is in a phase II registrational trial in relapsed and refractory multiple myeloma (RRMM) patients in China, dubbed CARTIFAN-1, and JNJ-4528 is in phase II portion of phase Ib/II registrational trial in RRMM patients in the United States and Japan, dubbed CARTITUDE-1.

A phase II multicohort trial of JNJ-4528 in the United States and Europe in patients with multiple myeloma in various clinical settings such as in early relapse patients or as a front-line therapy, dubbed CARTITUDE-2, is also underway.

JNJ-4528 is also under a phase III trial in Revlimid-refractory multiple myeloma in the United States, Europe and Japan, dubbed CARTITUDE-4.

LB1909, under a phase I trial in patients with relapsed and refractory B-cell lymphoma.

LB1910, under a phase I single arm trial in patients with acute myeloid leukemia.

LB1904, under a phase I trial in patients with advanced gastric cancer and pancreatic ductal adenocarcinoma.

LB1905, under a phase I trial in patients with relapsed and refractory diffuse large B-cell lymphoma, follicular lymphoma, mantle cell lymphoma or small lymphocytic lymphoma in China.

LB1902 in preclinical development for treatment in ovarian cancer.

LB1903 in preclinical development for the treatment of HIV.

Near-term Catalysts:

Data from phase II portion of phase Ib/II registrational trial of JNJ-4528in RRMM patients in the United States and Japan, dubbed CARTITUDE-1, is expected to be presented in the second half of 2020.

The Company expects to file for approval of JNJ-4528 in RRMM in the U.S. and Europe in the second half of 2020.

3. Lantern Pharma

Dallas, Texas-based Lantern Pharma, a clinical-stage biotechnology company, focused on leveraging artificial intelligence (A.I), machine learning and genomic data, is all set to begin trading on the NASDAQ Capital Market under the symbol "LTRN" on June 5, 2020.

The Company, with the assistance of its proprietary AI platform called RADR, identifies abandoned or shelved small-molecule drugs with a proven history of tolerability, some of which have shown efficacy in clinical trials that are desired candidates to in-license and develop.

Lantern Pharma has offered to sell 1.56 million shares in the IPO, priced between $15 and $17 per share. The underwriters have an option for 45 days to purchase 234,450 shares.

Underwriters of the IPO: ThinkEquity and Dougherty & Co.

Pipeline and Near-term Catalysts:

The Company's portfolio consists of three compounds in active development - two drug candidates in clinical development and one in preclinical studies.

-- The most advanced drug candidate is LP-100, under a phase II trial in metastatic, castration-resistant, prostate cancer. This compound is out-licensed to Oncology Venture A/S , a European biotechnology company.

-- Next up is LP-300, in-licensed from BioNumerik Pharmaceuticals, a phase II-ready compound to treat a more targeted set of cancer patients who exhibit a biomarker profile that correlates with non-or never smoking status but still have a form of non-small cell lung cancer (NSCLC).

Both LP-100 and LP-300 showed promise in early-stage of testing, but failed pivotal phase III trials, which according to Lantern Pharma was due to a lack of patient stratification driven by an inability to develop biomarker-driven, precision oncology trials.

-- LP-184 that preferentially damages DNA in cancer cells that overexpress certain biomarkers, under preclinical development. The company is planning to initiate a phase I clinical trial for LP-184 across multiple solid tumors that express a certain biomarker profile, and in glioblastoma in late 2021 or early 2022.

4. Applied Molecular Transport Inc.

San Francisco, California-based Applied Molecular Transport is a clinical-stage biopharmaceutical company developing novel oral biologic product candidates to treat autoimmune, inflammatory, metabolic, and other diseases.

The company is scheduled to list its IPO on the Nasdaq Global Select Market under the symbol "AMTI" on June 5, 2020.

The company has offered to sell 10.0 million shares of common stock in the offering, and the underwriters have an option for 30 days to purchase up to 1.5 million additional shares.

The initial public offering price is expected to be between $12.00 and $14.00 per share.

Underwriters of the IPO:

BofA Securities, Jefferies, SVB Leerink

Pipeline:

- The company's lead candidate, AMT-101 is a GI-selective oral fusion of recombinant human interleukin 10 or rhIL-10 that has completed a Phase 1b clinical trial in ulcerative colitis or UC patients.

- AMT-126 is an oral GI-selective oral fusion of rhIL-22 that is currently in preclinical development for diseases arising from intestinal epithelium (IE) barrier function defects.

Near-term catalysts:

-The company expects to advance AMT-101, proposed for ulcerative colitis, into phase II testing beginning in the second half of 2020 through early 2021. Top-line data readouts for the phase II trial are expected beginning in the second half of 2021 and into 2022.

- Filing an IND or a clinical trial application (CTA) for AMT-126, proposed for diseases related to IE barrier function defects driven by activation of the innate immune system, is expected this year, and the top-line data readout for the related phase I clinical trial is expected in 2022.