Metacrine (MTCR) IPO Opens 11% Higher

Today's IPO for Metacrine, Inc. (NASDAQ: MTCR) opened for trading at $14.39 after pricing 6,540,000 shares of its common stock at a public offering price of $13.00 per share.

In addition, Metacrine has granted the underwriters a 30-day option to purchase up to 981,000 additional shares of its common stock at the initial public offering price, less the underwriting discounts and commissions. All of the shares are being offered by Metacrine.

Jefferies, Evercore ISI and RBC Capital Markets are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager for the offering.

Metacrine is a clinical-stage biopharmaceutical company building a differentiated pipeline of therapies to treat liver and gastrointestinal (GI) diseases. The company’s most advanced programs, MET409 and MET642, target the farnesoid X receptor (FXR), which is central to modulating liver and GI diseases. Both MET409 and MET642 are currently being investigated in clinical trials as potential new treatments for non-alcoholic steatohepatitis (NASH).

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