As you probably know, I grew up playing basketball and went on to shoot hoops at the college level when I attended New Hampshire.
Later, I even proceeded to play at the pro level, which took me all around the globe.
Here I am playing pro ball in Australia for the Tasmania Thunder.
Playing basketball has always been one of my favorite things to do because I enjoy getting a sweat going each and every time I get out on the court.
And as a guy who stands 6 feet and 8 inches, breaking a sweat has never been too hard.
But while I’m not in quite as peak shape as I was during those earlier years — I can’t tell you how many wind sprints I used to do during tryouts and preseason — I still workout regularly.
I just love that feeling I get when I’m breathing heavily and my heart pounds inside my chest, pumping blood into circulation throughout the rest of my body as oxygen gets delivered to the tissues and other organs.
While having normal and healthy blood that moves easily through my veins is something I have taken for granted, some people are not so blessed.
Hemoglobinopathy is a rare group of genetic disorders and diseases, including sickle-cell disease, that affects red blood cells.
It’s also the focus of a coming IPO called Imara, which is committed to developing and commercializing new therapeutics to treat people suffering from these rare issues affecting the blood.
So let’s take a look in more detail at the company, the sector, the management, the underwriters, and all the financials — that way I can inform you whether it’s likely to receive my green, yellow, or red IPO signal.
It takes a bold company to IPO under such volatile current market conditions, but Imara is exactly that.
It’s also a biotech, which means it could catch a bit of a bounce from sympathy plays during this coronavirus scare.
That means that when biotech companies specifically involved in the search for a coronavirus vaccine get a pop, other biotechs or healthcare companies could also catch a bounce.
Just recently, we looked at Passage Bio (PASG), which priced at 18 and ended it’s first day up 22.2% at $22.20 on February 28.
Much like Passage Bio, Imara has a solid mission and a strong management team, led by Rahul D. Ballal, PhD, with many years of experience developing and commercializing therapeutics in the pharmaceutical and biotech industry.
The Boston-based company and team certainly plans to target people affected by hemoglobinopathy within the United States, but the potential of their developments are far reaching.
Hemoglobinopathy affects 420 million people total, about 7% of the world population, and 70% of the carriers of Hemoglobinopathy are found in Africa.
100,000 of the cases occurring at birth are found in people living in the United States.
In other words, if the issue in the United States seems pressing, the issue is actually much larger abroad where there is an even bigger demand for a solution.
The Terms Of The Deal
Based on the recent terms that Imara set for its IPO, it hopes to raise up to $80.1 million and achieve a value of $293.9.
The underwriter leading the charge here is Morgan Stanley.
So far, the company is backed by Pfizer as well as a host of venture capitalists.
The company plans to offer 4.45 million shares at a price of $16 to $18 per share.
While the company recorded a net loss of $23.5 million in 2019 following a loss of $11.3 million in 2018, it hopes to bring in more revenue when it further commercializes its products.
For now, management says they plan to use the IPO proceeds to fund research and development costs.
IMRA is expected to price on March 11, and its first trade date goes down March 12. I’ll be watching this IPO very closely, especially with the strength of healthcare and biopharmaceutical companies.
Once I figure out where the stock prices and the demand, I’ll be sure to let my clients know my plans for IMRA.