Biotech sector is no exception to the rising trend among upcoming IPOs that have marked the year of 2018, also arriving in moderate hype to the stock market in 2019.
Axcella Health is another company announcing its IPO debut as the company disclosed the IPO filling on April 30th, valued at 505 million dollars for its initial public offer.
After announcing IPO debut and confirming its listing, Axcella Health has set their terms for the upcoming IPO on Tuesday, April 30th.
The company is expecting to see 78.6 million dollars raised through the initial offer, while Axcella Health offers 3,571,428 A class shares within their public offer.
Share price is expected to start between the value of 20$ and 22$ per share, which would grant 78.6 million dollars for the initial offer.
In case underwrites come to an agreement to have additional shares released, the stake could increase to 90 million dollars from 78.6 million.
Axcella Health IPO Information and Financial Reports
Axcella has been approved for a listing on Nasdaq where the company’s shares should become available under the thicker AXLA.
What is already a case with the majority of tech companies going public with IPOs, is also the case with Axcella Health – the company had no profit for the past two years, in 2017 and 2018.
Axcella announced a net loss of 36.1 million dollars for 2018, additionally losing 30.9 million dollars in 2017.
Based on these reports, net loss reported by Axcella Health has grown in a course of a single fiscal year.
Axcella Health Working on Biotech Innovations
What could make Axcella a significant and a rather interesting investment as the company is waiting to go public on Nasdaq, is the fact that Axcella Health is working on innovations in the biotech sector.
This biotech company is investing in development of multifactorial interventions in order to try and resolve problems with dysregulated metabolism.