Werewolf Therapeutics (NASDAQ:HOWL) is performing incredibly well today with its stock trading for the first day after its initial public offering (IPO).
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The first day of trading for Werewolf Therapeutics has it moving 1.3 million shares as of this writing. While we don’t have a daily average to compare that to, it’s still noting to sniff at.
The Werewolf Therapeutics IPO sees the company offering up 7.5 million shares of HOWL stock at a price of $16 each. The company is expecting gross proceeds from the IPO to come in at around $120 million.
There’s also a 30-day option for underwriters to acquire an additional 1,125,000 of HOWL stock at the IPO price. Jefferies, SVB Leerink, and Evercore ISI are acting as the joint book-running managers of the offering. H.C. Wainwright & Co is serving as the lead manager for the IPO.
The Werewolf Therapeutics kicks off today with shares of HOWL stock trading on the Nasdaq Exchange. The offering is set to last until Tuesday.
So what’s does Werewolf Therapeutics do?
Werewolf Therapeutics is a biopharmaceutical company developing therapeutics engineered to stimulate the body’s immune system. These therapies would boost the bodies ability to deal with cancer.
Werewolf Therapeutics’ most advanced product candidates are WTX-124 and WTX-330. These are conditionally activated Interleukin-2 (IL-2), and Interleukin-12 (IL-12) INDUKINE molecules designed to treat solid cancer tumors.
Both of these therapies are still being used for preclinical studies. The company says that its goal is to advance each of them for the treatment of multiple tumor types. They will also be working alongside immune checkpoint inhibitors.
HOWL stock was up 27.8% as of Friday morning.
Werewolf Therapeutics is among several medical companies making headlines recently.
Several others are also in the news, though for different reasons. That includes the likes of Motus GI Holdings (NASDAQ:MOTS), Ocugen (NASDAQ:OCGN), and Protalix BioTherapeutics (NYSEMKT:PLX). Investors that are looking to catch up on the latest news from these companies can check the links below.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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