CAMP4 Announces Pricing of Initial Public Offering

Rhea-AI Summary

CAMP4 Therapeutics (Nasdaq: CAMP), a clinical-stage biotechnology company, has announced the pricing of its initial public offering (IPO). The company is offering 6,820,000 shares of common stock at $11.00 per share, aiming to raise approximately $75.0 million in gross proceeds. Trading of CAMP4's common stock on the Nasdaq Global Market is expected to begin on October 11, 2024, under the ticker symbol 'CAMP'.

The offering is set to close on October 15, 2024, subject to customary conditions. CAMP4 has also granted the underwriters a 30-day option to purchase up to an additional 1,023,000 shares at the IPO price. J.P. Morgan, Leerink Partners, Piper Sandler, and William Blair are acting as joint book-running managers for the offering.

Positive

• CAMP4 is raising approximately $75.0 million through its IPO
• The company's shares will be listed on the Nasdaq Global Market
• Underwriters have a 30-day option to purchase additional shares, potentially increasing the offering size

Negative

• Potential dilution of existing shareholders' ownership due to the issuance of new shares

Insights

Financial Analyst

CAMP4 Therapeutics' IPO pricing at $11.00 per share for 6,820,000 shares is a significant milestone, potentially raising $75.0 million in gross proceeds. This capital injection will likely fuel the company's clinical-stage pipeline of regulatory RNA-targeting therapeutics. The pricing within the expected range suggests moderate investor interest, considering the current biotech market conditions.

The involvement of major underwriters like J.P. Morgan and Leerink Partners adds credibility to the offering. The 30-day option for underwriters to purchase an additional 1,023,000 shares provides flexibility for increased capital raise if demand is strong. Trading under the ticker "CAMP" on Nasdaq Global Market enhances visibility and liquidity for investors.

For the biotech sector, this IPO signals continued appetite for innovative therapeutic approaches, particularly in genetic diseases. However, investors should note that as a clinical-stage company, CAMP4 likely has a long road to profitability, with significant R&D expenses expected in the near term.

Biotech Research Analyst

CAMP4's focus on regulatory RNA-targeting therapeutics for upregulating gene expression represents a cutting-edge approach in the biotech field. This platform has the potential to address a wide range of genetic diseases by restoring healthy protein levels, which could be a game-changer if successful in clinical trials.

The company's transition to public markets provides important funding for advancing its pipeline, but also subjects it to increased scrutiny and quarterly performance pressures. Investors should closely monitor upcoming clinical milestones and data readouts, as these will be critical in validating CAMP4's technology and driving long-term value.

While the IPO is promising, it's important to note that the biotech sector is highly volatile, especially for early-stage companies. The success of CAMP4 will heavily depend on clinical trial outcomes, regulatory approvals and potential partnerships or licensing deals in the coming years.

CAMBRIDGE, Mass., Oct. 10, 2024 (GLOBE NEWSWIRE) -- CAMP4 Therapeutics Corporation (“CAMP4”) (Nasdaq: CAMP), a clinical-stage biotechnology company developing a pipeline of regulatory RNA-targeting therapeutics designed to upregulate gene expression with the goal of restoring healthy protein levels across a range of genetic diseases, today announced the pricing of its initial public offering of 6,820,000 shares of its common stock at an initial public offering price of $11.00 per share. All of the shares are being offered by CAMP4. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $75.0 million. CAMP4’s common stock is expected to begin trading on the Nasdaq Global Market on October 11, 2024, under the ticker symbol “CAMP”. The offering is expected to close on October 15, 2024, subject to the satisfaction of customary closing conditions. In addition, CAMP4 has granted the underwriters a 30-day option to purchase up to an additional 1,023,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

J.P. Morgan, Leerink Partners, Piper Sandler and William Blair are acting as joint book-running managers for the offering.

A registration statement relating to the shares being sold in the offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) and became effective on October 10, 2024. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by telephone at (866) 803-9204, or by emailing prospectus-eq_fi@jpmchase.com; Leerink Partners LLC, Syndicate Department, 53 State Street, 40th Floor, Boston, Massachusetts 02109, by telephone at (800) 808-7525 ext. 6105, or by emailing syndicate@leerink.com; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, Minnesota 55402, by telephone at (800) 747-3924, or by email at prospectus@psc.com, or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, Illinois 60606, by telephone at (800) 621-0687 or by email at prospectus@williamblair.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About CAMP4 Therapeutics Corporation

CAMP4 is developing disease-modifying treatments for a broad range of genetic diseases where amplifying healthy protein may offer therapeutic benefits. Our approach amplifies mRNA by harnessing a fundamental mechanism of how genes are controlled. To amplify mRNA, our therapeutic ASO drug candidates target regulatory RNAs (regRNAs), which act locally on transcription factors and are the master regulators of gene expression. CAMP4’s proprietary RAP Platform™ enables the mapping of regRNAs and generation of therapeutic candidates designed to target the regRNAs associated with genes underlying haploinsufficient and recessive partial loss-of-function disorders, of which there are more than 1,200, in which a modest increase in protein expression may have the potential to be clinically meaningful.

Forward-Looking Statements

This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the completion, timing and size of the initial public offering and the commencement of trading on the Nasdaq Global Market. Each forward-looking statement is subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the initial public offering discussed above will be completed on the terms described or at all. Completion of the proposed initial public offering and the terms thereof are subject to numerous factors, many of which are beyond the control of CAMP4, including, without limitation, market conditions, failure of customary closing conditions and the factors discussed in the “Risk Factors” section of the prospectus that forms a part of the registration statement, in the form last filed with the SEC. These forward-looking statements speak only as of the date of this press release and CAMP4 undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts

Investor Relations:
Ashley Robinson
LifeSci Advisors
arr@lifesciadvisors.com

Media:
Jason Braco, Ph.D.
LifeSci Communications
jbraco@lifescicomms.com
(646) 876-4932

FAQ

What is the IPO price for CAMP4 Therapeutics (CAMP) shares?

CAMP4 Therapeutics (CAMP) has priced its initial public offering at $11.00 per share.

How many shares is CAMP4 Therapeutics (CAMP) offering in its IPO?

CAMP4 Therapeutics (CAMP) is offering 6,820,000 shares of its common stock in the initial public offering.

When will CAMP4 Therapeutics (CAMP) begin trading on the Nasdaq?

CAMP4 Therapeutics (CAMP) is expected to begin trading on the Nasdaq Global Market on October 11, 2024.

What is the expected gross proceeds from CAMP4 Therapeutics (CAMP) IPO?

The expected gross proceeds from CAMP4 Therapeutics (CAMP) IPO are approximately $75.0 million, before deducting underwriting discounts and commissions and other offering expenses.