Axcella Health Inc., a Cambridge, Mass.-based biotechnology company, has filed for an initial public offering. The company has applied to list its shares on the Nasdaq Global Market under the ticker symbol "AXLA," while using place-holder amount of $86.25 million for the value of the proposed IPO. The company focuses on developing "multifactorial interventions" to address dysregulated metabolism. Axcella recorded a net loss of $36.1 million in 2018, after a loss of $30.9 million in 2017. The joint book-running managers of the IPO are Goldman Sachs, J.P. Morgan and SVB Leerink. The company is looking to go public at a time the Renaissance IPO ETF has rallied 32.6% year to date, the iShares Nasdaq Biotechnology ETF has climbed 16.0% and the S&P 500 has advanced 15.2%.