Jade Biosciences, Inc.

Jade Biosciences, Inc. (AVTE) priced its initial public offering on Jun 30, 2021 at $14.00 per share, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $323.5M. Jefferies was lead-left underwriter, joined by TD Cowen, Evercore ISI and Wedbush. Goodwin Procter advised the company and Latham & Watkins advised the underwriters.

At its 2021 IPO, Aerovate Therapeutics (now Jade Biosciences) was a clinical-stage biopharmaceutical company developing AV-101, a dry powder inhaled formulation of imatinib, for pulmonary arterial hypertension, a rare cardiopulmonary disease. AV-101 was its only product candidate.

Status

IPO

Ticker

AVTE

Exchange

Nasdaq Global Market

Priced

Jun 30, 2021

IPO price

$14.00

Market cap at IPO price

$323.5M

First filed

Jun 9, 2021

Underwriters

Jefferies, TD Cowen, Evercore ISI and Wedbush

Company counsel

Goodwin Procter

Underwriters' counsel

Latham & Watkins

Sector

Biotech & pharma

Country / state

MA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.