The IPO Buzz: Boundless Bio (BOLD) Prices IPO at $16.00 Mid-Point

Boundless Bio (BOLD) priced its IPO at $16.00 – the mid-point of its range – on just 6.25 million shares – the number of shares in the prospectus – to raise $100.0 million on Wednesday night, March 27, 2024. The Phase 1/Phase 2 cancer biotech’s stock is expected to start trading today – Thursday, March 28, 2024 – on the NASDAQ. Goldman Sachs, Leerink Partners, Piper Capital and Guggenheim Securities were the joint book-runners. Boundless Bio, based in San Diego, is targeting extrachromosomal DNA (ecDNA), a root cause of oncogene amplification in more than 14 percent of cancer patients. The company was founded in 2018 by ARCH Venture Partners, a leading biotech VC firm, and Paul Mischel, M.D., the vice chair of research and professor of pathology at Stanford University. Dr. Mischel is internationally recognized for his expertise in ecDNA and cancer biology. The company has top biotech VC names behind it, but no collaborations so far, according to the prospectus. Besides ARCH Venture Partners, Boundless Bio’s principal stockholders include Fidelity, RA Capital Management and Bayer Healthcare, the prospectus says. Boundless Bio is developing two oral drug candidates: –       BBI-355, a novel oral selective inhibitor of checkpoint kinase 1 (CHK1), which manages ecDNA replication and transcription in cancer cells. The company aims to have preliminary data from a clinical trial available in the second half of 2024. –       BBI-825, a novel oral selective inhibitor of ribonucleotide reductase (RNR), which is essential for ecDNA assembly and repair in cancer cells. The company aims to have preliminary data from a clinical trial available in the second half of 2025.  The company is not profitable. For the year ended Dec. 31, 2023, Boundless Bio had a net loss of $49.43 million and no revenue from product sales, the prospectus shows.   (For more information about this company, please check the IPO Calendar and the individual IPO Profile found on our website: IPOScoop.com ) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.