Mid-point pricing, oversubscribed issuance: Bambusa (BBTX.US) IPO raises 169 million USD, market cap set at 815 million USD

According to Golden Ten Data APP, Bambusa Therapeutics Inc. (BBTX.US), an early-stage biotechnology company focused on dermatological and autoimmune diseases, raised $168.9 million through an upsized US initial public offering (IPO), with the issue price set at the midpoint of its indicated range.

According to a statement released on Thursday, the biotechnology company sold 10.556 million shares at $16 each. Previously filed documents showed the company originally planned to offer 9.375 million shares at a price range of $15 to $17 per share.

Based on the IPO price and the number of outstanding shares listed in the documents, Bambusa's market capitalization stands at $815 million.

According to previous filings, the Boston-based company is developing long-acting bispecific antibodies to address unmet needs in the global immunology and inflammation market, covering the areas of dermatology, respiratory, digestive, and autoimmune diseases.

Bambusa was founded in 2024, and its lead drug candidates were acquired from a business unit of BioNTech SE (BNTX.US): the first being a treatment for atopic dermatitis (commonly known as eczema), and the second targeting other inflammatory diseases, including respiratory and allergic conditions.

Filings show Salvia Investment is expected to hold nearly 18% of shares after the IPO, followed by co-founder and former BioNTech executive Shanshan Xu, with 17%, and RA Capital Management with 9%.

According to the earlier statement, Bambusa completed a fundraising round last November, with existing investors RA Capital, Janus Henderson Investors, and Dawn Biopharma, which is backed by KKR, all participating. The documents show that the round raised $33.1 million, a significant increase in valuation over an $89 million funding round earlier that year. As of the end of June, Bambusa held $71.5 million in cash and equivalents.

Filings show that for the six months ended June 30, 2026, the company posted a net loss of $22.4 million on zero revenue, compared to a net loss of $13 million on zero revenue for the same period a year earlier.

The IPO is being led by Bank of America, Evercore Inc., UBS Group, and Cantor Fitzgerald. Bambusa expects its shares to begin trading on the Nasdaq Global Select Market on Friday under the ticker symbol BBTX.