Metabolic disorder biotech company Vogenx (VOGX.US) sets IPO price at $11-13 per share, aiming to raise $75 million

According to reports from Zhihui Finance APP, Vogenx (VOGX.US), a biotechnology company specializing in developing therapies for endocrine and metabolic disorders and currently in Phase 2b clinical trials, announced the terms of its initial public offering (IPO) on Wednesday. The company, headquartered in Raleigh, North Carolina, plans to raise $75 million by offering 6.3 million shares at a price range of $11 to $13 per share. At the midpoint of the proposed range, Vogenx's fully diluted market value will reach $173 million.

VogenX is a clinical-stage biopharmaceutical company focused on discovering and developing therapies for diseases related to human metabolic dysfunction, including post-bariatric hypoglycemia (PBH) and gastroparesis. The company’s main candidate, mizagliflozin, is an orally administered, low-absorption small molecule sodium-glucose co-transporter 1 (SGLT1) inhibitor, globally licensed from Kissei Pharmaceutical (excluding Japan, South Korea, and Taiwan). To date, mizagliflozin has been administered to over 500 subjects across ten clinical studies, including two completed Phase 2 studies in PBH patients. The drug is currently advancing in a Phase 2b study (EMERGE) for the same indication. The company is also assessing mizagliflozin for the treatment of gastroparesis and GIP-dependent Cushing’s syndrome, and it maintains a preclinical small-molecule candidate, VGX-2857, which is being explored for metabolic disease indications, including weight maintenance.

Vogenx was founded in 2021. The company plans to list on Nasdaq under the ticker symbol VOGX. JonesTrading is acting as the sole bookrunner for this offering.