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Investing.com -- Maze Therapeutics, a clinical-stage biopharmaceutical company, launched its initial public offering (IPO) today, with shares starting to trade at $16.12. The company priced 8,750,000 shares of its common stock at a public offering price of $16.00 per share.
The shares began trading on the Nasdaq Global Market today under the symbol "MAZE". The IPO is managed by a team of joint bookrunners, including J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities. The offering is available only through a prospectus.
In addition to the initial offering, Maze Therapeutics has given underwriters a 30-day option to buy up to an additional 1,312,500 shares of common stock at the initial public offering price, minus underwriting discounts and commissions.
Maze Therapeutics focuses on developing novel, small molecule precision medicines for patients living with common diseases. The company’s primary focus areas are renal, cardiovascular, and related metabolic diseases, including obesity. Its Compass platform is used to gain insights into genetic variants in disease and link them with the biological pathways that drive disease in specific patient groups.
The company’s pipeline is spearheaded by two wholly owned lead programs, MZE829 and MZE782. These programs represent a new precision medicine-based approach for chronic kidney disease.
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