Allena Pharmaceuticals ($ALNA) #IPO Preview

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Company: Allena Pharmaceuticals, Inc.
Symbol: ALNA
Description: They are a late-stage clinical biopharmaceutical company dedicated to developing and commercializing first-in-class, oral enzyme therapeutics to treat patients with rare and severe metabolic and kidney disorders.
Shares: 5.3 million
Price Range: $14.00-$16.00
Trade Date: 11/2
Underwriter(s): Credit Suisse, Jefferies, Cowen & Company
Co-Manager(s): Wedbush PacGrow

Link to S-1/A Prospectus

Link to Retail Roadshow

Business: They are focused on metabolic disorders that result in excess accumulation of certain metabolites, such as oxalate and urate, that can cause kidney stones, damage the kidney, and potentially lead to chronic kidney disease, or CKD, and end-stage renal disease. Their lead product candidate, ALLN-177, is a first-in-class, oral enzyme therapeutic that they are developing for the treatment of hyperoxaluria, a metabolic disorder characterized by markedly elevated urinary oxalate levels and commonly associated with kidney stones, CKD and other serious kidney diseases. There are currently no approved therapies for the treatment of hyperoxaluria. They have conducted a robust clinical development program of ALLN-177, including three Phase 2 clinical trials, and Allena Pharmaceuticals expects to initiate the first of two planned pivotal Phase 3 clinical trials for ALLN-177 in the first quarter of 2018, with topline data anticipated in the second half of 2019.

AllenaDrugs

Insider Buying: Certain of their existing stockholders, including certain affiliates of their directors, have indicated an interest in purchasing an aggregate of approximately $25.0 million of shares of common stock in this offering at the initial public offering price.

Sector Performance: Below is a chart of the Healthcare sector of the IPO market in 2017 for companies that raised greater than $25m. Prices are as of the close 10.26.17.

Screen Shot 2017-10-26 at 4.39.37 PM

 

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Allena Pharmaceuticals ($ALNA) #IPO Preview
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