MedCity News February 2, 2024
Fractyl Health will use the IPO proceeds for pivotal testing of a medical device and surgical procedure intended to address root causes of diabetes and obesity. The Fractyl pipeline also includes a gene therapy for these conditions.
Fractyl Health contends its metabolic disorder product candidates could offer long-lasting effects not achievable with in-demand weight loss medications, such as Wegovy and Zepbound. It now has $110 million in IPO cash to help build that case with clinical data.
The Lexington, Massachusetts-based company late Thursday priced its offering of more than 7.3 million shares at $15 each, which was the midpoint of the price range it had set earlier in the week. Those shares now trade on the Nasdaq under the stock...
Today's Sponsors
Today's Sponsor