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Client Highlights
2.02.26
Wilson Sonsini Advises ESS Tech on $15 Million Registered Direct Offering
On January 29, 2026, ESS Tech, a leading manufacturer of long-duration energy storage systems (LDES) for commercial and utility-scale applications, announced that it has entered into definitive agreements in a registered direct offering with institutional investors for the purchase and sale of approximately $15 million of shares of common stock and pre-funded warrants at a price of $1.75 per share of common stock, which price was a premium to the closing price on January 28, 2026. Wilson Sonsini Goodrich & Rosati advised ESS Tech on the transaction.
Client Highlights
6.18.25
Firm Advises Enliven Therapeutics on $230 Million Public Offering
On June 16, 2025, Enliven Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics, announced the close of its underwritten public offering of 9,920,987 shares of its common stock, which includes the full exercise of the underwriters' option to purchase 1,526,250 additional shares of its common stock, at a price to the public of $19.66 per share and pre-funded warrants to purchase 1,780,263 shares of its common stock at a price to the public of $19.659 per pre-funded warrant. All of the shares and pre-funded warrants were sold by Enliven. The gross proceeds from the offering were approximately $230 million before deducting underwriting discounts and commissions and other offering expenses. Wilson Sonsini Goodrich & Rosati advised Enliven on the offering.
Client Highlights
4.02.25
Wilson Sonsini Advises Edgewise Therapeutics on $200 Million Underwritten Offering
On April 2, 2025, Edgewise Therapeutics, a leading muscle disease biopharmaceutical company, announced the pricing of an underwritten offering of 9,935,419 shares of its common stock at an offering price of $20.13 per share. Edgewise anticipates gross proceeds from the offering to be approximately $200 million, before deducting underwriting discounts and commissions and offering expenses. The closing of the offering is expected to occur on April 3, 2025. Wilson Sonsini Goodrich & Rosati represented Edgewise Therapeutics on the transaction.
Client Highlights
4.18.24
Wilson Sonsini Advises Ibotta on $577 Million IPO at $2.7 Billion Valuation
On April 18, 2024, Ibotta, the digital marketing company backed by Walmart, listed on the New York Stock Exchange under ticker symbol “IBTA” and raised about $557.3 million in an upsized initial public offering. Denver-based Ibotta and a group of its shareholders sold 6.56 million shares for $88 each, according to Bloomberg, bringing Ibotta’s valuation to about $2.67 billion. The offering is expected to close on April 22, 2024, subject to customary closing conditions. Wilson Sonsini Goodrich & Rosati represented Ibotta in the transaction.
Client Highlights
1.24.24
Wilson Sonsini Advises Edgewise Therapeutics on $240 Million Underwritten Offering
On January 19, 2024, Edgewise Therapeutics, a leading muscle disease biopharmaceutical company, announced the pricing of an underwritten offering of 21,818,182 shares of its common stock at an offering price of $11.00 per share. Edgewise anticipates gross proceeds from the offering to be approximately $240 million, before deducting underwriting discounts and commissions and offering expenses. The closing of the offering occurred on January 23, 2024. Wilson Sonsini Goodrich & Rosati represented Edgewise Therapeutics on the transaction.
Press Releases
12.04.23
Wilson Sonsini Goodrich & Rosati Elects 20 New Partners
Contact:
Kimberly Brooks
Wilson Sonsini
+1 212.453.2881
kbrooks@wsgr.com
Kimberly Brooks
Wilson Sonsini
+1 212.453.2881
kbrooks@wsgr.com
Client Highlights
9.25.23
Wilson Sonsini Advises Applied Molecular Transport Inc. in its Sale to Cyclo Therapeutics
On September 21, 2023, Cyclo Therapeutics, Inc., a clinical-stage biotechnology company focused on developing transformative therapies for rare and neurological diseases with limited treatment options, and Applied Molecular Transport Inc. (AMT), a biopharmaceutical company, announced that the companies have entered into a definitive agreement pursuant to which AMT will merge with Cyclo Therapeutics in an all-stock transaction. Wilson Sonsini Goodrich and Rosati is advising AMT on the transaction.
Newsletters
6.07.23
The Life Sciences Report – June 2023
This latest issue features an article on Enliven Therapeutics’ reverse merger with Imara and concurrent financing, including an interview with Enliven co-founder and CEO Sam Kintz; a piece on trends in digital health following the end of the COVID-19 public health emergency; and an analysis of life sciences venture financings in which clients participated across the first and second halves of 2022. It also includes details on the life sciences-focused NextGen VC Forum hosted by Wilson Sonsini and LaunchBio, a preview of the U.S.-Japan Healthcare Connection’s trade mission and roadshow for healthcare companies, a recap of the firm’s inaugural 1L Life Sciences Summit, and select life sciences client highlights, among other content.
Alerts
12.14.22
Reminders for Preparing the Annual Report on Form 10-K
Management’s Discussion and Analysis (MD&A). MD&A rules require companies to “describe any known trends or uncertainties that have had or that are reasonably likely to have a material favorable or unfavorable impact on net sales or revenues or income from continuing operations.” In the current geopolitical and economic climate, many companies are increasing their disclosure related to supply chain issues, inflationary pressures, impact of foreign exchange rates, lengthening sales cycles, potential recession, effects of higher interest rates, and Russia’s invasion of Ukraine. Companies should disclose both current and potential future impacts of geopolitical and economic conditions on their business. This is particularly important given the U.S. Securities and Exchange Commission’s (SEC’s) focus on a principles-based approach to MD&A, as detailed in our previous client alert.
Client Highlights
10.14.22
Wilson Sonsini Advises Enliven Therapeutics on Merger with Imara
On October 13, 2022, Enliven Therapeutics, a clinical-stage precision oncology company focused on the discovery and development of next-generation small molecule kinase inhibitors, and Imara announced that they have entered into a definitive merger agreement to combine the companies in an all-stock transaction. Wilson Sonsini Goodrich & Rosati is advising Enliven on the transaction.
Client Highlights
4.14.22
Wilson Sonsini Advises Sierra Oncology on $1.9 Billion Acquisition by GSK
On April 13, 2022, GlaxoSmithKline plc (GSK) and Sierra Oncology, Inc. announced that they have entered into an agreement under which GSK will acquire Sierra Oncology, a late-stage biopharmaceutical company focused on targeted therapies for the treatment of rare forms of cancer, for $55 per share of common stock in cash, representing an approximate total equity value of $1.9 billion. The per-share price represents a premium of approximately 39 percent to Sierra Oncology’s closing stock price on April 12, 2022, and a premium of approximately 63 percent to Sierra Oncology’s VWAP over the last 30 trading days. Wilson Sonsini Goodrich & Rosati advised Sierra Oncology on the transaction.
Sierra Oncology’s differentiated momelotinib has the potential to address the critical unmet medical needs of myelofibrosis patients with anaemia. In January 2022, Sierra Oncology announced positive topline results from the MOMENTUM phase III trial. The study met all its primary and key secondary endpoints, demonstrating that momelotinib achieved a statistically significant and clinically meaningful benefit on symptoms, splenic response, and anemia. Sierra Oncology is anticipating U.S. regulatory submission in Q2 of this year and EU submission in the second half of 2022.
Wilson Sonsini has also advised Sierra Oncology on a number of recent financing transactions, including public warrant and equity issuances.
Sierra Oncology’s differentiated momelotinib has the potential to address the critical unmet medical needs of myelofibrosis patients with anaemia. In January 2022, Sierra Oncology announced positive topline results from the MOMENTUM phase III trial. The study met all its primary and key secondary endpoints, demonstrating that momelotinib achieved a statistically significant and clinically meaningful benefit on symptoms, splenic response, and anemia. Sierra Oncology is anticipating U.S. regulatory submission in Q2 of this year and EU submission in the second half of 2022.
Wilson Sonsini has also advised Sierra Oncology on a number of recent financing transactions, including public warrant and equity issuances.
Client Highlights
4.01.21
Firm Advises Applied Molecular Transport on $105 Million Public Offering
On March 31, 2021, Applied Molecular Transport (AMT), a clinical-stage biopharmaceutical company leveraging its proprietary technology platform to design and develop a pipeline of novel biologic product candidates to treat autoimmune, inflammatory, metabolic, and other diseases, announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock at a public offering price of $42.00 per share. All of the shares of common stock are being offered by AMT. Wilson Sonsini Goodrich & Rosati is advising AMT on the transaction.
AMT has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to AMT from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AMT, are expected to be $105 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on April 6, subject to the satisfaction of customary closing conditions.
The Wilson Sonsini team advising AMT on the transaction includes:
AMT has granted the underwriters a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds to AMT from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AMT, are expected to be $105 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on April 6, subject to the satisfaction of customary closing conditions.
The Wilson Sonsini team advising AMT on the transaction includes: