SAN DIEGO, Sept. 15, 2020 (GLOBE NEWSWIRE) — Metacrine, Inc. (Nasdaq: MTCR), a clinical-stage biopharmaceutical company focused on discovering and developing differentiated therapies for patients with liver and gastrointestinal diseases, today announced the pricing of its initial public offering of 6,540,000 shares of its common stock at a public offering price of $13.00 per share. The gross proceeds to Metacrine from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Metacrine, are expected to be approximately $85.0 million. In addition, Metacrine has granted the underwriters a 30-day option to purchase up to 981,000 additional shares of its common stock at the initial public offering price, less the underwriting discounts and commissions. All of the shares are being offered by Metacrine.
Metacrine has been approved for listing on the Nasdaq Global Market and is expected to begin trading on Wednesday, September 16, 2020 under the ticker symbol “MTCR.” The offering is expected to close on Friday, September 18, 2020, subject to customary closing conditions.