Biopharmaceutical Company Bambusa Therapeutics Files for IPO

Dow Jones10-10 05:38

Biopharmaceutical company Bambusa Therapeutics filed for an initial public offering, and said it applied to list on the Nasdaq Global Select Market under the symbol BBTX.

The company said it is working to develop bispecific antibodies designed to redefine standards of care in immunology and inflammation.

Bambusa said it is currently evaluating its lead product candidate, BBT001 for the treatment of moderate-to-severe atopic dermatitis, in the U.S., Australia, Europe, and New Zealand. The company also said it initiated a Phase 2a clinical trial of BBT001 to treat chronic spontaneous urticaria in China.

Salvia Investment and entities affiliated with RA Capital and with Biotechnology Value Fund are listed among the company's principal stockholders.

The company also said to date it has generated no revenue, and had an accumulated deficit of $77.2 million as of June 30.

The company didn't provide an expected size for its IPO, nor did it offer an expected price range for shares.

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