Successful IPO of Principia Biopharma
Principia Biopharma (Nasdaq: PRNB), a so far privately held company in the portfolio of HBM Healthcare Investments, successfully completed its planned IPO on Friday last week. The company issued 6.25 million new shares at the upper end of the price range at USD 17.00 per share, raising a total of USD 106.25 million for the company. On the first trading day on Friday, the stock price rose to USD 32.65 (+92%).
HBM Healthcare Investments invested first USD 12 million in Principia in a private financing round prior to the IPO in August 2018 and increased its stake by an additional USD 7.2 million in the IPO. Following the IPO, HBM Healthcare Investments holds approximately 1.26 million shares worth USD 41.1 million. As a result of the IPO, the net asset value per HBM-share (NAV) increases by CHF 2.58 (+1.5%).
Headquartered in South San Francisco, California (USA), Principia Biopharma is a clinical-stage biopharmaceutical company dedicated to bringing transformative oral therapies to patients with significant unmet medical needs in immunology and oncology.
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