Lei Jianping on April 6
Small molecule maker Contineum Therapeutics (ticker: "CTNM") yesterday went public on the NASDAQ in the United States at an issue price of $16, offering 6.875 million shares and raising $110 million.
Contineum opened at $14.5, down 9.4% from the offering price, and closed at $15.4, down 3.75% from the offering price, giving the company a market capitalization of approximately $417 million
Contineum is a clinical-stage biopharmaceutical company focused on the discovery and development of novel oral small molecule therapeutics for neuroscience, inflammation, and immunology (NI&I) indications.
Contineum is collaborating with Johnson & Johnson to develop PIPE-307, an M1R-selective inhibitor, in a Phase 2 trial in relapsing/remitting multiple sclerosis.
Contineum is also looking to enter the space currently dominated by Bristol Myers Squibb and could compete with other pharmaceutical companies such as Amgen and AbbVie that are working on anti-lysophosphatidic acid receptor 1 (LPA1R).
According to the prospectus, Contineum has no revenue and an operating loss of $24.25 million in 2022, and revenue of $50 million and a net profit of $22.72 million in 2023.
Baker Brothers是股东
Prior to the IPO, Carmine Stengone held 4.1% of Class A shares, Daniel S. Lorrain, Ph.D. held 2.7% of Class A shares, Todd R. Brady held 4.8% of Class A shares, Stefan M. Larson, Ph.D held 5.8% of Class A shares, Clare R. Ozawa, Ph.D. held 19.4% of Class A shares, and Versant Ventures held 32.2% of Class A shares Class A shares;
Baker Brothers持有100% B类股，Sectoral Asset Management持有5.8%的A类股，JJDC持有10.1%的A类股。
After the IPO, Carmine Stengone held 2.7% of Class A shares, Daniel S. Lorrain, Ph.D. held 1.8% of Class A shares, Todd R. Brady held 3.1% of Class A shares, Stefan M. Larson, Ph.D held 3.8% of Class A shares, Clare R. Ozawa, Ph.D. held 12.7% of Class A shares, and Versant Ventures held 21% of Class A shares Class A shares;
Baker Brothers持有100% B类股，Sectoral Asset Management持有3.8%的A类股，JJDC持有6.6%的A类股。
The following is the Contineum roadshow PPT (Thunder Network Processing):
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