Jan 7 (Reuters) - Biotech firm Maze Therapeutics, backed

by Third Rock Ventures, revealed a profit for the first nine

months of 2024 in its paperwork for a U.S. initial public

offering (IPO) filing on Tuesday.

The U.S. IPO market has seen an uptick amid falling interest

rates, strong equity markets, and hopes of a friendlier

regulatory environment under the incoming Trump administration.

Maze's decision follows a strong 2024 for biotech companies,

with firms such as Septerna ( SEPN ) and Bicara Therapeutics ( BCAX )

receiving a positive response from investors at their

debut.

Maze said it earned $9.03 million for the nine months ended

Sept. 30, 2024, compared with a loss of $73.84 million in the

year-ago period.

The terms of the IPO were not disclosed in the offering.

The San Francisco, California-based company is also backed

by healthcare investors ARCH Venture Partners and General

Catalyst.

Maze is advancing two fully-owned lead programs, MZE829 and

MZE782, both of which represent a "novel precision

medicine-based" approach for chronic kidney disease.

The funds raised from the IPO will be used to advance the

clinical development of these lead programs.

The company is also developing another program, MZE001, for

a genetic disorder called Pompe disease through a partnership

agreement with Japanese firm Shionogi.

France-based healthcare company Sanofi had

previously announced a global licensing agreement with Maze for

MZE001 in May 2023.

However, Sanofi later scrapped the agreement following an

administrative complaint issued by the Federal Trade Commission,

which cited the French firm's monopoly in the treatment of Pompe

disease.

Maze Therapeutics intends to list its shares on the Nasdaq

Global Market under the ticker symbol "MAZE".

J.P. Morgan, TD Cowen, Leerink Partners and Guggenheim

Securities are the lead underwriters of the offering.