Orum Therapeutics Takes Bold Step Towards KOSDAQ Listing
Orum Therapeutics Positions for KOSDAQ Listing
Orum Therapeutics, a biopharmaceutical company celebrated for its advancements in the field of degrader-antibody conjugates (DACs), has taken an exciting step in its journey by filing a registration statement with the Financial Supervisory Service for its upcoming listing on the KOSDAQ market. This move marks the beginning of the company’s initial public offering (IPO) process, setting the stage for future growth and innovation.
Understanding Degrader-Antibody Conjugates
The concept of DACs, which Orum specializes in, represents a next-generation therapeutic modality. These innovative therapies effectively deliver targeted protein degradation (TPD) agents, utilizing antibodies to selectively degrade problematic proteins within cells. This approach holds promise for treating a variety of diseases more effectively than traditional methods.
Financial Performance Highlights
In the most recent financial year, Orum demonstrated significant growth, reporting an impressive revenue of KRW 135.4 billion. The company also achieved an operating income of KRW 95.6 billion and a net profit of KRW 68.2 billion, reflecting a solid foundation for its forthcoming initiatives.
Details on the Initial Public Offering
As part of the IPO process, Orum plans to issue 3 million new shares, with the anticipated offering price ranging between 30,000 won and 36,000 won per share. The gross proceeds from the offering, before accounting for expenses, are projected to approximate KRW 90 billion. Orum aims to conduct a demand forecast for institutional investors from October 24 to 30, culminating in a public subscription scheduled for November 5 and 6, supported by underwriters at Korea Investment & Securities.
Innovation in Cancer Treatment
Orum is not just about numbers; it's about groundbreaking biotechnology. The company is at the forefront of developing targeted protein degraders using the TPD2 methodology. One of its leading therapeutic candidates, ORM-5029, is currently in clinical development and focuses on treating HER2-expressing solid tumors, showcasing Orum's commitment to improving patient outcomes in cancer therapy.
The Role of Proprietary Technology
Orum has leveraged unique technologies to enhance its DAC platforms further. One such advancement is the proprietary linker technology, TPD2-PROTAb, which allows for the conjugation of various TPDs to act as novel therapeutic payloads. This level of innovation not only positions Orum as a leader in the field but also demonstrates its potential to revolutionize treatment paradigms.
The Vision of Orum Therapeutics
Founded to transform cancer treatment approaches, Orum Therapeutics operates out of Lexington, MA, and Daejeon, South Korea. The company aims to provide patients with improved treatment options through its sophisticated therapeutic candidates and targeted approaches. Orum stands by its mission to pioneer advancements in the biotech sector, with future projects focused on innovative therapies that respond to the needs of patients.
Commitment to Transparency and Growth
As Orum Therapeutics prepares for its IPO, the company remains dedicated to transparency and providing stakeholders with vital information. The registration for KOSDAQ listing signals not only its growth trajectory but also the confidence the company has in its products and mission.
Frequently Asked Questions
What is the significance of Orum's KOSDAQ listing?
The KOSDAQ listing allows Orum Therapeutics to access additional capital for expanding its innovative therapies and reach a wider audience.
What therapies is Orum developing?
Orum develops targeted protein degraders (TPD2) and stabilizers (TPS2), focusing on improving cancer treatments.
How did Orum perform financially last year?
Orum achieved revenues of KRW 135.4 billion, with an operating income of KRW 95.6 billion and a net profit of KRW 68.2 billion.
When is the public subscription for the IPO?
The public subscription is set to take place from November 5 to 6, 2024, following a demand forecast for investors.
Where is Orum Therapeutics based?
Orum is headquartered in Lexington, MA, and has operations in Daejeon, South Korea, reflecting its global reach in the biotech industry.
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