LucidQuest Strategic Insights (lqventures.com) >>> Gene&Cell Therapy >> It takes GUTS to be BOLD: A look at the new biotech
tickers: As the public markets heat up in biotech, industry insiders expect a small drumbeat of IPOs later this spring, and that means a new set of stock tickers to track.
Next up is BOLD, the proposed name of Boundless Bio’s Nasdaq stock. Using that name would mark a return for the ticker, which freed up after Astellas bought Audentes Therapeutics for $3 billion in 2019. Boundless is expected to make its Wall Street debut in the coming weeks after unveiling plans to go public earlier this month.
Biotech tickers have traditionally stuck to letters that encompass their name, like RayzeBio’s RYZB. Others rely on their chosen modality, like Moderna’s MRNA. And some go the route of the technology they’re deploying — like Editas Medicine’s EDIT for gene editing, while four-letter names often beget four-letter symbols, like JAZZ.
Joshua Pinto
“You want to make it unique to the company so it’s really like a branding event,” Neumora CFO Joshua Pinto said in an interview. “Second, you want to make it easy to remember.”
Neumora, a Phase III neuroscience biotech, went public in September as NMRA. In its early days, the ARCH Venture Partners startup went by the nickname of “Really Big Neuroscience Company.”
“I won’t say what choice No. 2 or 3 was, but as you could imagine, we had some fun with some of the prior acronyms behind the company,” Pinto said.
One recent entrant also took a playful approach.
In its January IPO, Fractyl Health, a Massachusetts biotech working on cardiometabolic medicines, went with GUTS — a play on both gut health and bravery.
“We’ve been talking about intestinal fortitude from the perspective of the tenacity and commitment and conviction required to be successful,” Fractyl CEO Harith Rajagopalan said in an interview, “but then also intestinal fortitude, as something that is impaired in people with obesity and metabolic disease.”
Harith Rajagopalan
On the day of its IPO, Fractyl gave its employees T-shirts with the phrase, “No guts, no glory.” The biotech plans to start testing its GLP-1 gene therapy in humans as a potential type 2 diabetes treatment in the first half of next year.
“The greatest ticker symbol of all time was Genentech’s use of DNA back in the day,” Rajagopalan said. “You think, ‘Well, what are we trying to convey with this ticker symbol about who we are, about what we do, about the way in which we do it?’ GUTS was just too good to pass up on.”
DNA is now the ticker for Ginkgo Bioworks, a synthetic biology company that has seen its valuation crater since going public in 2021.
As more biotechs go public, they’ll have to be creative with their ticker symbols to stand out in what may be an increasingly crowded field — and many obvious choices are… #lucidquest #genetherapy #celltherapy
Board Chair at The National Board of Medication Therapy Management, Inc.
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