Obesity and diabetes biotech Carmot Therapeutics files for IPO

Car­mot Ther­a­peu­tics has filed to go pub­lic in a chilly en­vi­ron­ment for new list­ings, but the obe­si­ty biotech’s place in one of drug de­vel­op­ment’s hottest fields could buoy its chances of a suc­cess­ful IPO.

The Berke­ley, CA-based biotech plans to de­but on Nas­daq as $CR­MO be­fore year’s end, ac­cord­ing to a Fri­day fil­ing with the SEC.

The planned of­fer­ing comes as in­dus­try in­sid­ers say they ex­pect lit­tle IPO ac­tiv­i­ty to close out the year. In­stead, the sec­tor is like­ly to see some com­pa­nies pur­su­ing re­verse merg­ers, and oth­ers in wait-and-see un­til af­ter the JP Mor­gan health­care con­fer­ence in ear­ly Jan­u­ary

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