Attovia Therapeutics Inc. is seeking to raise up to $212.5 million in a U.S. initial public offering by offering 12.5 million shares priced at $15 to $17 each. The San Carlos, California-based biotech firm plans to list on the Nasdaq under the ticker symbol ATTO.
Attovia to take on Sanofi and Regeneron’s Dupixent
Galderma won FDA approval for an IL-31 drug, Nemluvio, in 2024 and doubled its peak sales forecast to more than $4 billion this year. The drug, which Galderma licensed from Roche’s Chugai in 2016, fights with products including Dupixent for the atopic dermatitis and prurigo nodularis markets.
IPO Details & Terms
- Shares offered: 12.5 million common shares
- Price range: $15 to $17 per share
- Target raise: Up to $212.5 million (or roughly $244.4 million if underwriters exercise options)
- Exchange / Ticker: Nasdaq Global Market under ATTO
- Joint Bookrunners: Morgan Stanley, Leerink Partners, Citigroup, RBC Capital Markets, and LifeSci Capital.
Company Focus & Pipeline
- Focus: Early-stage biopharmaceutical developer targeting immune-mediated inflammatory diseases.
- Platform: Uses a proprietary "ATTOBODY" platform in-licensed from Alamar Biosciences.
- Lead Candidate: ATTO-1310, an IL-31 inhibitor designed as a potential competitor to established treatments like Dupixent and Nemluvio for high-itch atopic dermatitis and chronic pruritus.
- Financial Position: Pre-revenue clinical-stage company reporting a net loss of $18.7 million for the first quarter of 2026. Proceeds from the IPO will fund upcoming Phase 2 clinical trials and pipeline expansion.
