Thus far, 2024 has been a mixed year for initial public offerings (IPOs). Various IPOs in 2023 performed well, but many underperformed expectations. Accordingly, it will be interesting to see how this year shapes out in terms of companies looking to go public. Fractyl Health is among the latest companies to indicate plans to list its shares on the public market. Indeed, the GUTS IPO is set to raise $110 million for the firm.
This IPO will be interesting to watch, given the company’s focus on medical devices and therapies for type-2 diabetes and obesity. With all the hype and discussion around weight-related drugs and treatments in the market, Fractyl could be going public at the right time. At least, that’s what insiders are hoping.
The company’s leading candidate is an outpatient procedural therapy named the Revita DMR System. This candidate is currently in its trial stage, with investors hoping to see some positive results for enrolled patients in how their diabetes and obesity-related symptoms are improved.
Let’s dive more into what investors may want to know about this upcoming IPO.
What to Know About the GUTS IPO
For context, this information has been made available by Renaissance Capital:
- Fractyl Health is “a metabolic therapeutics company” that was founded in 2010.
- Following the IPO, shares of Fractyl Health will be listed on the Nasdaq under the ticker GUTS.
- The deal is expected to be priced sometime this week, with an expected range between $14 and $16 per share.
- At the midpoint of its range, 7.3 million shares will be offered, resulting in a market capitalization of $810 million.
- There are three joint bookrunners on the deal: Bank of America Securities, Morgan Stanley (NYSE:MS) and Evercore ISI.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
