Ventyx Biosciences Inc. has set terms for its initial public offering, in which the California-based biopharmaceutical company focused on inflammatory disease treatments looks to raise up to $132.8 million. The company is offering 7.81 million shares in the IPO, which is expected to price between $15 and $17 a share. With about 47.27 million shares expected to be outstanding after the IPO, the expected pricing would value Ventyx at up to about $803.6 million. The stock is expected to list on the Nasdaq under the ticker symbol “VTYX.” Jefferies, Evercore ISI and Piper Sandler are the lead underwriters. The company recorded at net loss of $53.2 million on no revenue for the six months ended June 30, after a loss of $4.3 million on no revenue in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 9.5% over the past three months while the S&P 500 has edged up 1.8%.
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