Valuations and Disclosures for S-1 Filings

Caliber recently assisted several biotech companies in determining the fair values of certain equity instruments issued by the Companies that are being used in their form S-1 filings.  Caliber helped the companies establish the fair value of common stock, preferred stock and warrants and has assisted with developing disclosure statements and responding to SEC requests.

The Companies include Xencor, Ulthera and Pfenex.

Xencor (NASDAQ:XNCR) uses protein engineering technologies to develop better biotherapeutics – antibodies that target new biological mechanisms and are more potent, safer and longer lasting – to improve patient outcomes and quality of life. Its XmAb antibody engineering technology dramatically augments natural antibody immune functions while maintaining over 99.5% identity to natural antibodies.

Ulthera, Inc. is a global medical device company focused on developing and commercializing technologies for aesthetic and medical applications using its therapeutic ultrasound platform technology. The Ulthera® System is the first and only energy-based device to receive U.S. FDA clearance for a non-invasive aesthetic lift indication.

Pfenex is a clinical-stage biotechnology company developing and commercializing high value and difficult to manufacture proteins. Pfenex evolved from helping Big Pharma craft large-molecule therapies to developing biosimilars of its own. The company, a spinoff of Dow Chemical, is using its proprietary protein expression technology to develop biosimilars. Its most advance candidate, is a biosimilar to Roche’s Lucentis and is expected to begin Phase III efforts next year.

Read more: Pfenex eyes a $75M IPO to bankroll its biosimilars – FierceBiotech