Neurological and mental health therapy drug developer Seaport (SPTX.US) IPO priced at $16-18 per share, intending to raise $201 million.

Biotechnology company Seaport Therapeutics, focused on developing therapies for neuro-psychiatric disorders, announced the terms of its initial public offering (IPO) on Monday. The company plans to issue 11.8 million shares of stock at a price of $16-18 per share, raising $201 million. Seaport Therapeutics plans to list on the Nasdaq under the stock symbol "SPTX", with the IPO offering price expected to be determined later this week. Seaport Therapeutics is a clinical-stage biotechnology company dedicated to developing oral therapies for treating neuro-psychiatric disorders, including depression, anxiety, and other central nervous system diseases. The company utilizes its proprietary Glyph platform, a targeted lymphatic predrug technology designed to enhance oral bioavailability and reduce first-pass metabolism, to repurpose clinically validated mechanisms of action into differentiated drug candidates. Its key pipeline projects include a Phase 2b candidate drug GlyphAllo for severe depression, and a Phase 1 candidate drug GlyphAgo for generalized anxiety disorder. Additionally, the company has preclinical candidates for depression and related central nervous system disorders.