CinCor Pharma, Inc. (CINC): Successful IPO
CinCor successfully completed successful IPO raising over $200M in early January 2022, featuring participation from new institutional investors
BACKGROUND
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 and not yet at goal. At the request of the CFO, LifeSci Advisors started working with CinCor a few months prior to their $200M IPO on January 6th, 2022.
ACTION PLAN
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 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 January
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.