The increasing number of new cases and deaths related to COVID-19 has created a palpable fear and uncertainty among market participants, e.g., investors and analysts. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.The recent outbreak of Coronavirus (COVID-19) has infected almost 27.57 million people and caused 475,000 deaths in the US, at the time of writing. Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. The article Gene therapy biotech Omega Therapeutics sets terms for $126 million IPO originally appeared on IPO investment manager Renaissance Capital's web site. It is expected to price during the week of July 26, 2021. Goldman Sachs, Jefferies, Piper Sandler, and Wedbush PacGrow are the joint bookrunners on the deal. Omega Therapeutics was founded in 2016 and plans to list on the Nasdaq under the symbol OMGA. The company has conducted in vivo preclinical studies in hepatocellular carcinoma, non-small cell lung cancer, and acute respiratory distress syndrome. Its pipeline consists of preclinical programs that span regenerative medicine, multigenic diseases including immunology, oncology, and select monogenic diseases. Omega Therapeutics aims to use its proprietary OMEGA Epigenomic Programming platform to pioneer a new class of DNA-sequence-targeting, mRNA-encoded therapeutics.
At the midpoint of the proposed range, Omega Therapeutics would command a fully diluted market value of $866 million. The Cambridge, MA-based company plans to raise $126 million by offering 7.4 million shares at a price range of $16 to $18. Omega Therapeutics, a preclinical biotech developing gene therapies for oncology and other diseases, announced terms for its IPO on Monday.
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