CinCor Pharma (NASDAQ: CINC): Investor Relations Program
CinCor is a clinical-stage biopharmaceutical company focused on developing baxdrostat, a hypertension (HTN) drug for patients with resistant hypertension (rHTN) or uncontrolled hypertension (uHTN) with the goal of providing improved treatment for patients suffering from hypertension.
BACKGROUND:
At the request of the CFO, LifeSci Advisors started working with CinCor a few months prior to their $200M IPO on Jan 6th, 2022.
LIFESCI’s ACTIVITIES
- Pre-IPO: LifeSci performed the following activities which brought investors into the stock and ultimately led to a successful equity offering:
- Advised on messaging and changes to investor presentation for IPO
- Worked with management on content and structure of Investor website
- Assisted the CEO and CFO on IPO allocations by better understanding investors’ background and portfolio turnover rates
- Post-IPO:
- Raised visibility of the Company and generated interest among investors
- LifeSci Advisors proactively arranged calls with investors in US and Europe
- Prepared materials for Phase 2 data announcement including two press releases, a reformatted slide deck, script for the call, and Q&A Document
- Advised CFO with key information about the funds submitting orders and provided questions to ask bookrunners prior to making allocations
RESULTS
CinCor successfully completed successful IPO raising over $200M in early Jan 2022, featuring participation from new institutional investors including T. Rowe Price, Sands Capital, along with existing private investors. CinCor was one of the few biotech IPOs to outperform their offer price among the 175+ biotech IPOs in 2020-2022.
CLIENT TESTIMONIAL
“LifeSci Advisors’ support throughout our upsized IPO process as well as the successful Follow-On Offering (of which LifeSci Capital was a lead underwriter) was extremely valuable, including useful input to the management in making allocations in both of our oversubscribed offerings. The firm’s deep and broad buy-side relationships have been leveraged to schedule consistently strong non-deal-roadshows which were very effective in driving our investor visibility and resulted in the participation of new institutional investors. Their dedicated Investor Communications team delivered intensive work and insightful materials for communicating the clinical trial results of our successful Phase 2 trial in resistant hypertension. I believe that their input and support contributed to the pending acquisition of CinCor Pharma by AstraZeneca for $1.8 billion.” – Marc de Garidel, CEO