Aileron Therapeutics (ALRN) IPO Opens Lower

Today's IPO for Aileron Therapeutics (NASDAQ: ALRN) opened for trading at $13.75 after pricing 3,750,000 shares of common stock at a public offering price of $15.00 per share.

BofA Merrill Lynch and Jefferies are acting as lead joint book-running managers and as representatives of the underwriters for the offering. William Blair and Canaccord Genuity are acting as co-managers for the offering. The offering is expected to close on July 5, 2017, subject to customary closing conditions.

Aileron is a clinical-stage biopharmaceutical company advancing stapled peptides, a novel class of therapeutics for cancers and other diseases. Our lead product candidate, ALRN-6924, targets the tumor suppressor p53 for the treatment of a wide variety of cancers. ALRN-6924, which is currently being tested in multiple clinical trials, reactivates p53-mediated tumor suppression by targeting the two primary p53 suppressor proteins, MDMX and MDM2.

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