The IPO Buzz: Boundless Bio (BOLD) Tops Short Holiday Playlist

Cancer biotech Boundless Bio (BOLD Proposed) leads the short playlist for the four-day holiday week of March 25, 2024, with its $100 million IPO. The U.S. stock market will be closed Friday, March 29, for Good Friday, which marks the start of the three-day Easter holiday weekend. The rest of this week’s IPO Calendar consists of just a handful of small-cap deals. U-BX Technology (UBXG Proposed), the parent of an AI-driven digital promotion business that serves China’s insurance carriers and brokers, will kick off the short week. U-BX Technology plans to price its IPO tonight (Monday, March 25, 2024): 2.0 million shares at $5.00 each to raise $10.0 million. EF Hutton is the sole book-runner. Targeting ecDNA in Cancer The only sizable IPO this week is Boundless Bio. The San Diego-based company is a Phase 1/Phase 2 biotech developing two oral drug candidates to inhibit extrachromosomal DNA, also known as ecDNA, a root cause of oncogene amplification in more than 14 percent of cancer patients, according to the prospectus. ecDNA is found only in cancer cells. Boundless Bio is offering 6.25 million shares at a price range of $15.00 to $17.00 to raise $100.0 million in its IPO. The IPO is expected to price Wednesday night, March 27, 2024, to trade Thursday, March 28, on the NASDAQ. Goldman Sachs, Leerink Partners, Piper Sandler and Guggenheim Securities are the joint book-runners. Boundless Bio was co-founded by ARCH Venture Partners, a leading biotech VC firm, and Dr. Paul Mischel, the vice chair of research and a professor of pathology at Stanford School of Medicine. Boundless Bio’s two oral drug candidates are:  – 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. Boundless Bio’s financial statements show that it is a typical biotech with no revenue from product sales and a sizable net loss. For the year ended Dec. 31, 2023, Boundless Bio had a net loss of $49.43 million, 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.