WALTHAM, Mass.--(BUSINESS WIRE)--Morphic Holding, Inc., a biopharmaceutical company discovering and developing oral small-molecule integrin therapeutics, today announced the closing of its initial public offering of 6,900,000 shares of its common stock at a price to the public of $15.00 per share, which includes 900,000 shares sold upon full exercise of the underwriters’ option to purchase additional shares of common stock. The shares began trading on The Nasdaq Global Market on June 27, 2019 under the symbol “MORF.” Morphic received gross proceeds, before deducting underwriting discounts and commissions and other estimated offering expenses, of approximately $103.5 million.

Jefferies LLC, Cowen and Company, LLC, BMO Capital Markets Corp. and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Morphic

Morphic Therapeutic, Inc. is a biopharmaceutical company applying its proprietary insights into integrins to discover and develop a pipeline of potentially first-in-class oral small-molecule integrin therapeutics for the treatment of serious chronic diseases, including autoimmune, cardiovascular and metabolic diseases, fibrosis and cancer. Morphic has developed an exclusive technology platform by leveraging its unique understanding of integrin structure and biology to develop novel product candidates designed to achieve the potency, high selectivity and pharmaceutical properties required for oral administration. Morphic Therapeutic, Inc. is the wholly-owned operating unit of Morphic Holding, Inc.