Syncona's NightstaRx registers for US IPO

Healthcare and life sciences investment company Syncona noted progress at its portfolio company NightstaRx on Friday, confirming it had filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering of its American depositary shares, representing ordinary shares, in the US.

The FTSE 250 firm said NightstaRx - to be reorganised as Nightstar Therapeutics - would be offering all of the depositary shares to be sold in the offering.

“Nightstar has applied to list its ADSs on the NASDAQ Global Market under the ticker symbol ‘NITE’,” the company’s board said in its statement.

“The number of ADSs to be sold and the price range for the proposed offering have not yet been determined.”

Syncona added that the registration statement relating to the ADSs had been filed with the SEC but has not yet become effective.

It said the ADSs may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.