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    NOVN   CH0012005267

NOVARTIS AG

(NOVN)
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Novartis : Pliant Therapeutics Upsized IPO Priced at High End of Range

06/03/2020 | 06:13am EDT

By Colin Kellaher

 

Pliant Therapeutics Inc. said its upsized initial public offering of nine million shares was priced at $16 apiece, the high end of the expected range.

The South San Francisco, Calif., clinical-stage biopharmaceutical company focused on the treatment of fibrosis said it also agreed to sell an additional 625,000 shares at $16 each to current investor Novartis AG in a private placement.

Novartis held a roughly 6.2% stake in Pliant prior to the IPO.

Pliant, which on Tuesday raised the size of the offering to nine million shares from six million, said it expects gross proceeds of $144 million from the IPO, adding that it granted the underwriters a 30-day option to buy up to an additional 1.35 million shares.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
NOVARTIS AG -0.70% 76.12 Delayed Quote.-8.36%
PLIANT THERAPEUTICS, INC. -3.47% 17.52 Delayed Quote.-20.11%
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Analyst Recommendations on NOVARTIS AG
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Financials (USD)
Sales 2021 51 991 M - -
Net income 2021 10 093 M - -
Net Debt 2021 22 238 M - -
P/E ratio 2021 18,0x
Yield 2021 3,99%
Capitalization 183 B 183 B -
EV / Sales 2021 3,95x
EV / Sales 2022 3,68x
Nbr of Employees 109 000
Free-Float 87,0%
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Technical analysis trends NOVARTIS AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 81,91 $
Average target price 102,30 $
Spread / Average Target 24,9%
EPS Revisions
Managers and Directors
Vasant Narasimhan Chief Executive Officer
Harry Werner Kirsch Chief Financial Officer
Hans J÷rg Reinhardt Independent Non-Executive Chairman
John Tsai Chief Medical Officer
Klaus Moosmayer Chief Ethics Risk & Compliance Officer
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