Biotech Certara files for IPO

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Biotech company Certara Inc. has filed for an initial public offering, according to a filing late Wednesday. The Princeton, N.J., company, which calls itself a global leader in biosimulation software and technology, which allows for virtual drug trials, had confidentially submitted a draft registration statement last month. Certara filed to sell $100 million worth of shares, although that figure is often a placeholder used to calculate fees. Underwriters include Jefferies, Morgan Stanley, and BofA Securities. The company expects to trade on the Nasdaq under the ticker CERT. The company said its revenue rose to $178.9 million in the first nine months ended September 2020, compared with $154.7 million in the year-ago period. It swung to a profit of $5.1 million in the nine months of 2020, contrasting with a loss of $2.9 billion a year ago. Certara said that the continued spread of COVID-19 could “adversely impact” its business and financial conditions, but that as of September it had “no material adverse impacts on the Company’s financial condition, results of operations or cash flows.”
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