: Apogee Therapeutics sets IPO terms, to be valued at up to $774.5 mln

Apogee Therapeutics Inc. APGE has set terms for its initial public offering, as the Massachusetts-based biotechnology company developing treatments for chronic obstructive pulmonary disease (COPD) looks to raise up to $265.6 million. The company said it is offering 15.625 million shares in the IPO, which is expected to price between $15 and $17 a share. That pricing would value the company at up to $774.46 million. The stock is expected to trade on the Nasdaq exchange under the ticker symbol “APGE.” Jefferies, TD Cowen, Stifel and Guggenheim Securities are the lead underwriters. Apogee recorded a net loss of $12.53 million on no revenue during the first quarter. The company is looking to go public at a time of growing investor interest in IPO shares, as the Renaissance IPO exchange-traded fund IPO has rallied 15.3% over the past three months while the S&P 500 SPX has gained 7.1%.

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