CinCor Pharma, a developer of treatment for hypertension and other cardio-renal diseases, has priced its IPO of 11 million shares at a price range between $15 and $17 per share. The stock will trade on the NASDAQ under the ticker symbol “CINC.” Morgan Stanley, Jefferies and Evercore ISI are the lead underwriters. CinCor’s backers include General Atlantic, Perceptive Advisors, BVF Partners, venBio Partners, Adage Capital Management, Omega Funds, Rock Springs Capital, RTW Investments, Lilly Asia Ventures, Sixty Degree Capital, Sofinnova Investments, Sofinnova Partners and 5AM Ventures.
BOSTON, Jan. 03, 2022 (GLOBE NEWSWIRE) — CinCor Pharma, Inc. (“CinCor”), a clinical-stage biopharmaceutical company focused on developing its lead clinical candidate, CIN-107, for the treatment of hypertension and other cardio-renal diseases, today announced that it has launched an initial public offering of 11,000,000 shares of its common stock pursuant to a registration statement on Form S-1 filed with the Securities and Exchange Commission. The initial public offering price is expected to be between $15 and $17 per share. All shares of common stock to be sold in the proposed offering will be offered by CinCor. CinCor also intends to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. CinCor’s common stock is expected to begin trading on the Nasdaq Global Market under the symbol “CINC.”
Morgan Stanley, Jefferies and Evercore ISI are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as lead manager for the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the proposed offering may be completed or the actual size or terms of the proposed offering.
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. The securities may not be sold nor may offers to buy these securities be accepted prior to the time that the registration statement becomes effective.
The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus may be obtained by contacting may be obtained from: Morgan Stanley & Co. LLC by mail at Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone at (866) 718-1649 or by email at firstname.lastname@example.org; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com; and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200, or by email at email@example.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
CinCor is a clinical-stage biopharmaceutical company focused on developing its lead clinical candidate, CIN-107, a highly selective, oral small molecule inhibitor of aldosterone synthase, for the treatment of hypertension and other cardio-renal diseases.