Maze Therapeutics(MAZE.US) IPOs at $15-17/share to raise $125M, accelerating the development of precision medicines for kidney disease.

Maze Therapeutics, a small molecule drug development company focused on precision treatment for kidney disease, announced on Monday the specifics of its initial public offering (IPO). The South San Francisco, California-based company plans to raise $125 million by offering 7.8 million shares at a price range of $15 to $17 per share. At the midpoint of the price range, Maze Therapeutics' fully diluted market capitalization would be $715 million. Maze Therapeutics is developing new small molecule precision drugs for patients with kidney, cardiovascular, and related metabolic diseases, including obesity. The company is advancing its pipeline using its proprietary "Compass platform," which identifies and characterizes disease-related genetic variants and links them to disease-driving biological pathways in specific patient populations. Maze Therapeutics' core candidate drug, MZE829, is an oral small molecule inhibitor developed for patients with APOL1 kidney disease. In October 2024, Maze announced results from its Phase I clinical trial of MZE829, showing good drug tolerability, and initiated its Phase II clinical trial in November 2024. The company expects to complete dosing of the first patient in the first quarter of 2025 and to receive concept validation data in the first quarter of 2026. Maze Therapeutics was founded in 2017, and in the 12 months ended September 30, 2024, the company generated revenue of $168 million through licensing revenue. The company plans to list on the Nasdaq under the ticker symbol "MAZE." Joint bookrunners for the IPO include J.P. Morgan, TD Cowen, Leerink Partners, and Guggenheim Securities. Pricing is expected to be completed in the week of January 27, 2025.