Entering text into the input field will update the search result below

Forma Therapeutics Launches Ambitious IPO Plan

Jun. 10, 2020 4:13 PM ETNovo Nordisk A/S (NONOF)


  • Forma Therapeutics has filed to raise $150 million in an IPO, although the final figure may differ.
  • The firm is developing treatments for sickle cell disease and other conditions.
  • FMTX has received significant milestone revenue from its major pharma firm partnerships.
  • Looking for more stock ideas like this one? Get them exclusively at IPO Edge. Get started today »

Quick Take

Forma Therapeutics (FMTX) has filed to raise $150 million in an IPO of its voting common stock, according to an S-1 registration statement.

The firm is developing treatment candidates for patients with hematological (blood) diseases and cancers.

FMTX is a mid-stage biopharma that has earned significant milestone revenue from its major pharma partnerships.

I'll provide a final opinion when we learn more about the IPO from management.

Company & Technology

Watertown, Massachusetts-based Forma was founded to advance a pipeline of drug treatments, the lead candidate of which seeks to treat patients with sickle cell disease [SCD].

Management is headed by president and CEO Frank Lee, who has been with the firm since 2019 and was previously in varying senior roles at Genentech.

Below is a brief overview video of sickle cell disease:

Source: Novartis

The company's lead candidate is FT-4202, for the treatment of sickle cell disease. The drug seeks to activate pyruvate kinase-R to improve RBC metabolism resulting in increased hemoglobin levels.

Below is the current status of the company's drug development pipeline:

Source: Company S-1 Filing

Investors in the firm have invested at least $142 million and include Novartis Bioventures (NVS), Biomedical Sciences Investment Fund, Lilly Ventures (LLY), Baker Brothers Advisors and Cormorant Global.

Market & Competition

According to a 2018 market research report by Grand View Research, the market for sickle cell disease treatment is expected to reach $5.5 billion by 2023.

This represents a forecast CAGR (Compound Annual Growth Rate) of 14.3% from 2019 to 2023.

Key elements driving this expected growth are a growing patient pool size leading to increased demand and development of potential new drugs in late stages, including voxelotor, crizanlizumab, Altemia and rivipansel.

Major competitive vendors that provide or are developing treatments include:

  • Emmaus Medical (OTCQB:EMMA)

  • Global Blood Therapeutics (

Gain Insight and actionable information on U.S. IPOs with IPO Edge research.

Members of IPO Edge get the latest IPO research, news, and industry analysis. Get started with a free trial!

This article was written by

Donovan Jones profile picture

Donovan Jones is an IPO research specialist with 15 years of experience identifying opportunities for IPOs. He focuses on high-growth technology, consumer, and life science companies.

He leads the investing group IPO Edge which offers: actionable information on growth stocks through first look S-1 filings, previews on upcoming IPOs, an IPO calendar for tracking what’s on the horizon, a database of U.S. IPOs, and a guide to IPO investing to walk you through the the entire IPO lifecycle - from filing to listing to quiet period and lockup expiration dates. Learn more.

Analyst’s Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You


Disagree with this article? Submit your own. To report a factual error in this article, . Your feedback matters to us!
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.