NGM Updated its IPO filing to include an estimated price range of $14 to $16 per share. If all available shares are purchased, the IPO will raise more than $122 Million. The company intends to trade under the symbol, “NGM.”
Merck is a current shareholder and strategic collaborator with NGM. Merck will purchase a number of shares at the public offering price that will result in Merck owning 19.9% of outstanding shares once the offering is complete.
NGM is a clinical-stage bio pharma that has seven candidates in development. Its most advanced candidate in terms of development stage is NGM 282 for non-alcoholic steatohepatitis (NASH). The drug will enter Ph Iib in mid 2019.