Key Takeaways
- Seaport Therapeutics and Hemab Therapeutics aim for $180 million each in their IPOs, signaling a resurgence in biotech public offerings.
- Seaport plans to use IPO funds to advance two lead candidates, SPT-300 and SPT-320, targeting depression and major bleeding disorders.
- Hemab focuses on developing its bispecific antibody, sutacimig, for rare genetic bleeding disorders and anticipates significant funding needs for clinical trials.
Seaport Therapeutics IPO Details
Seaport Therapeutics, based in Boston, is set to offer 11.8 million shares priced between $16 and $18. Proceeds from the IPO could reach up to $211.4 million if underwriters fully exercise their options. Led by CEO Daphne Zohar, Seaport aims to further innovate therapies for depression by advancing its lead candidate, SPT-300, and another candidate, SPT-320.
Seaport is leveraging its exclusive Glyph platform to enhance the bioavailability of its drugs, aiming to mitigate potential side effects. The company plans to allocate approximately $121 million for ongoing phase 2b studies and a phase 3 study of SPT-300, a neurosteroid prodrug designed to treat major depressive disorder (MDD). Additionally, it will use around $97 million to further develop SPT-320, which targets lower dosing for effectiveness in treating major depressive disorder.
Seaport’s funding strategy is solidified with $233.7 million remaining from prior fundraising efforts, along with the anticipated proceeds from the IPO.
Hemab Therapeutics IPO Overview
Hemab Therapeutics aims for a similar public offering, planning to issue 11.76 million shares within the same price range. If priced at $17, anticipated net proceeds could total $208.2 million. Hemab’s strategy focuses on becoming a leader in treating bleeding disorders, particularly with its bispecific antibody, sutacimig, which has shown promise in reducing bleeding for patients with Glanzmann thrombasthenia.
The company is preparing to fund multiple trials, including a phase 3 study of sutacimig and ongoing trials for other bleeding disorders like Factor VII deficiency. Hemab also requires $60 million to $70 million for its early antibody candidate, HMB-002, targeting von Willebrand disease.
Instituted by Dr. Benny Sorensen, Hemab has maintained a strong financial footing with substantial previous funding and a strategy centered around advanced, targeted therapies rather than generic solutions.
Market Context for Biotech IPOs
The biotech IPO landscape has seen fluctuating levels in 2026, with a significant downturn following an initial boom earlier this year. However, renewed interest was sparked by Kailera Therapeutics’ record $625 million IPO, positioning both Seaport and Hemab’s offerings amidst promising market conditions for biotech investments.
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