PolyPid Ltd., a Phase 3 clinical-stage pharmaceutical company focused on developing targeted, locally administered and prolonged-release therapeutics using its proprietary PLEX technology, has announced the pricing of its initial public offering of 3,750,000 ordinary shares at a price to the public of US$16 per share, for gross proceeds of US$60 million. All of the ordinary shares are being offered by PolyPid. The shares are expected to begin trading on The Nasdaq Global Market under the symbol "PYPD" on June 26, 2020. The offering is expected to close on June 30, 2020, subject to customary closing conditions.
Latham & Watkins LLP represented the underwriters in the offering with a corporate team led by New York partner Nathan Ajiashvili and London partner Joshua Kiernan, with associates John Slater and Angel Marcial.