Third Harmonic Bio files for IPO

Clinical stage biopharmaceutical company Third Harmonic Bio Inc. on Wednesday filed its initial public offering with underwriters Morgan Stanley, Jefferies, Cowen and Lifesci Capital. The Cambridge, Mass.-based company plans to trade on the Nasdaq under the symbol “THRD.” Third Harmonic Bio said it’s focused on new medicines for the treatment of allergic and inflammatory diseases. Its lead product candidate, THB001, is a highly selective, oral small molecule inhibitor of KIT, a cell surface receptor that acts as the master survival and functional regulator of mast cells, the company said. Third Harmonic Bio reported a $29.6 million loss in 2021 and a loss of $12.8 million in 2020, with no revenue yet generated.