- South San Francisco-based Principia Biopharma (NASDAQ:PRNB) has filed a preliminary prospectus for an $86M IPO.
- The clinical-stage biopharmaceutical firm develops therapies in immunology and oncology based on its Tailored Covalency platform that it says enables its oral treatments to deliver potencies and selectivities on par with injectable biologics.
- Lead candidate is PRN1008, a BTK inhibitor Phase 3-ready for pemphigus and in Phase 2 development for immune thrombocytopenic purpura.
- In June 2017, it inked a collaboration agreement with AbbVie (NYSE:ABBV) for the research and development of oral immunoproteasome inhibitors.
- In November 2017, entered into exclusive license agreement with Sanofi (NASDAQ:SNY) for the continued development of BTK inhibitor PRN2246.
- 2018 Financials (6 mo.)($M): Revenue: 24.4 (+999%) (upfront payments from Sanofi and AbbVie); Operating Expenses: 22.0 (+47.7%); Net Income: 2.1 (+111.2%); cash flow ops: (22.3) (-999%).