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SCPS Stock: 14 Things to Know About the Scopus BioPharma IPO

Scopus BioPharma (NASDAQ:SCPS) stock was soaring higher as the company’s initial public offering (IPO) took place on Thursday.

A hand touches a digital chart with the text "IPO."

Source: Shutterstock

Here’s what investors interested in SCPS stock need to know about the Scopus BioPharma IPO.

  • The company’s IPO launched on Wednesday with shares priced at $5.50 each.
  • However, shares of the stock started trading higher than expected at $8.17.
  • The company’s IPO has it offering a total of 500,000 shares.
  • Scopus BioPharma notes that it plans to use funds from the IPO to fuel the development of its lead candidate immuno-oncology gene therapy to treat multiple cancers.
  • The company has several products in the pipeline with all of them being pre-clinical.
  • However, one gene therapy treatment in the works is approaching Phase 1 clinical trials.
  • This is its drug candidate CO-sTiRNA for treating B-cell Non-Hodgkin’s Lymphoma.
  • It’s also working on treatments for Cutaneous T-cell Lymphoma, other solid tumors, and Systemic Sclerosis.
  • The Benchmark Company, LLC is serving as the sole book-running manager of the IPO.
  • Joseph Gunnar & Co., LLC also acted as the co-manager of the offering.
  • Greenberg Traurig is acting as counsel to the company.
  • Underwriters for the Scopus BioPharma IPO include Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo, P.C.
  • The Scopus BioPharma IPO has caught the eyes of investors with heavy trading taking place yesterday.
  • As of this writing, more than 3 million shares have changed hands.

SCPS stock was surging 355.1% higher as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/12/scps-stock-14-things-to-know-about-the-scopus-biopharma-ipo/.

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