IPO Recap: AI Drug discovery platform Exscientia files for IPO

At the close on the last trading day, the Dow Jones Industrial Average lost 0.78%, while the S&P 500 index fell 0.77%, and the NASDAQ Composite index lost 0.87%.

On the last trading day, there were three traditional IPOs filed while no new stock officially listed for trading.

Exscientia, an Oxford, United Kingdom-based company founded in 2012, provides an AI-driven platform for drug design, discovery, and development. It aims to discover, design, and develop the best possible drugs in the fastest and most effective manner.

The company has built a complete end-to-end solution of AI and experimental technologies for target identification, drug candidate design, translational models, and patient selection.

It has originated the first three AI-designed precision drug candidates to enter human clinical trials. Its most advanced internally developed candidate, EXS21546, began a Phase 1 trial in December 2020. The other two candidates, are also currently in Phase 1 trials.

Nuvalent focuses on clinically proven kinase targets that have demonstrated efficacy and received FDA approval. It seeks to improve upon the limitations of existing kinase inhibitors, including kinase resistance, selectivity, and limited brain penetrance.

The company's lead product, NVL-520, is a brain-penetrant ROS1-selective inhibitor and is expected to begin clinical trials in patients with ROS1-positive non-small cell lung cancer and other advanced solid tumors in the second half of 2021, pending the acceptance of its IND.

Nuvalent began trading on July 29, 2021. As of September 11th, it has a market cap of $1.83 billion, with the listed to date gain of 122.76%.