BOSTON, MASSACHUSSETTS — Decibel Therapeutics (Nasdaq: DBTX), a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments to restore and improve hearing and balance, announced the pricing of its initial public offering (IPO) of 7,062,000 shares of its common stock at a price to the public of $18.00 per share.
All of the shares of common stock are being offered by Decibel. In addition, Decibel has granted the underwriters a 30-day option to purchase up to an additional 1,059,300 shares of common stock at the public offering price, less underwriting discounts and commissions.
Decibel’s common stock is expected to begin trading on the Nasdaq Global Select Market on Friday, February 12, 2021, under the symbol “DBTX.” The gross proceeds of the offering, before deducting underwriting discounts and commissions and offering expenses payable by Decibel, are expected to be approximately $127.1 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about Wednesday, February 17, 2021, subject to customary closing conditions.
Citigroup, SVB Leerink, BMO Capital Markets and Barclays are acting as joint book-running managers for the offering.
About Decibel Therapeutics
Decibel Therapeutics is a clinical-stage biotechnology company dedicated to discovering and developing transformative treatments to restore and improve hearing and balance, one of the largest areas of unmet need in medicine. Decibel has built a proprietary platform that integrates single-cell genomics and bioinformatic analyses, precision gene therapy technologies and expertise in inner ear biology. Decibel is leveraging its platform to advance gene therapies designed to selectively replace genes for the treatment of congenital, monogenic hearing loss and to regenerate inner ear hair cells for the treatment of acquired hearing and balance disorders. Decibel’s pipeline, including its lead gene therapy program, DB-OTO, to treat congenital, monogenic hearing loss, is designed to deliver on our vision of a world in which the privileges of hearing and balance are available to all.
Source: Decibel Therapeutics