Reuters: IPOX® CEO Josef Schuster on Biotech Market Strength and MapLight Therapeutics’ IPO Timing

Reuters reported that clinical-stage biotech firm MapLight Therapeutics is targeting a $704.3 million valuation in its upcoming U.S. IPO, aiming to raise $250.8 million through its Nasdaq debut under the ticker MPLT. The Redwood City–based company’s move comes amid a rebound in U.S. IPO activity and strong investor interest in biotech listings.

In the article, IPOX® CEO Josef Schuster commented on the favorable market dynamics supporting MapLight’s timing:

“This is an opportunistic move by the company to tap the IPO market and to take advantage of the currently excellent climate for IPOs in general and biotech IPOs in particular”, said Schuster.

Schuster also noted that renewed M&A activity in the biotech sector and promising product candidates from MapLight could further bolster investor demand.

Read the full article by Prakhar Srivastava on Reuters: Drug developer MapLight eyes $704.3 million valuation in US IPO