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

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William White
·2 min read
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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."
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.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

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

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