Vaxxinity, Inc. Prices IPO at $14.00-$16.00 Per Share (VAXX)

Vaxxinity, Inc. (VAXX) expects to raise $100 million in an IPO on Thursday, November 11th, IPO Scoop reports. The company will be issuing 6,700,000 shares at a price of $14.00-$16.00 per share.

In the last 12 months, Vaxxinity, Inc. generated $130,000 in revenue and had a net loss of $87.8 million. Vaxxinity, Inc. has a market cap of $1.7 billion.

BofA Securities, Jefferies and Evercore ISI acted as the underwriters for the IPO.

Vaxxinity, Inc. provided the following description of their company for its IPO: “We are a biotechnology company committed to democratizing healthcare across the globe. Our vision is to disrupt the existing treatment paradigm for chronic diseases, increasingly dominated by drugs, particularly monoclonal antibodies (“mAbs”), which suffer from prohibitive costs and cumbersome administration. We believe our synthetic peptide vaccine platform (“Vaxxine Platform”) has the potential to enable a new class of therapeutics that will improve the quality and convenience of care, reduce costs and increase access to treatments for a wide range of indications. Our Vaxxine Platform is designed to harness the immune system to convert the body into its own “drug factory,” stimulating the production of antibodies with a therapeutic or protective effect. While traditional vaccines have been able to leverage this approach against infectious diseases, they have historically been unable to resolve key challenges in the fight against chronic diseases. Our current pipeline consists of five chronic disease product candidates from early to late-stage development across multiple therapeutic areas, including Alzheimer’s Disease (“AD”), Parkinson’s Disease (“PD”), migraine and hypercholesterolemia. Additionally, we believe our Vaxxine Platform may be used to disrupt the treatment paradigm for a wide range of other chronic diseases, including any that are or could potentially be successfully treated by mAbs. We also will opportunistically pursue infectious disease treatments. When the COVID-19 pandemic struck the world in March 2020, we quickly reallocated our resources to develop vaccine candidates for the condition.  “.

Vaxxinity, Inc. was founded in 2014 and has 75 employees. The company is located at 1717 Main St, Ste 3388 Dallas, TX 75201 and can be reached via phone at (254) 244-5739.

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