IPO Lockup Expiration Alert: Pandion Therapeutics (PAND)

(RTTNews) - The lockup period of Watertown, Massachusetts-based Pandion Therapeutics (PAND) expires tomorrow (January 13, 2021).

Pandion Therapeutics is a clinical-stage biopharmaceutical company developing novel therapeutics for patients suffering from autoimmune diseases.

The company's lead product candidate is PT101, for which a phase 1a/2b clinical trial in ulcerative colitis is expected to start in mid-2021 and phase II clinical trial in systemic lupus erythematosus is expected to start in the second half 2021.

Also in the pipeline are a couple of compounds in pre-clinical testing like PT627 for the treatment of autoimmune disease, and PT002 and PT001, for the treatment of gastrointestinal and liver diseases.

Pandion Therapeutics made its debut on The Nasdaq Global Select Market on July 17, 2020, offering its shares at a price of $18 each and as mentioned above, the 180 day lockup period expires on January 13.

PAND opened the first day of trading on July 17 at $27.00 and closed at $18.10 that day. The stock has thus far hit a low of $10.28 and a high of $27.75.

PAND closed Tuesday's trading at $18.01, up 5.32%. In after hours trading, the stock was down 0.61% to $17.90.