initial public offerings (IPOs) trading on American exchanges

Friday, May 8, 2020

Ayala Pharmaceuticals (AYLA) began trading on the Nasdaq on Fri 8 May 2020

Ayala Pharmaceuticals, a Phase 2 biotech developing in-licensed Notch inhibitors for aggressive cancers, raised $55 million by offering 3.7 million shares at $15, the midpoint of the $14 to $16 range.
The biotech raised 10% more than expected; it originally filed to offer 3.3 million shares.

Rehovot, Israel-based Ayala was founded to to develop treatments for various cancers:
  • Recurrent/Metastatic Adenoid Cystic Carcinoma
  • Triple Negative Breast Cancer
  • Acute lymphoblastic leukemia
  • Desmoid, soft tissue tumors
A brief overview video of adenoid cystic carcinoma.

Management is headed by Chief Executive Officer Roni Mamluk, Ph.D., who has been with the firm since 2017 and was previously CEO at biopharmaceutical firm Chiasma and head of preclinical development of an oncology product at Adnexus Therapeutics.

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