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Precision oncology drug developer Acrivon Therapeutics (ACRV) has updated terms for a proposed $100M initial public offering, which would make it one of the largest biotech market debuts of the year.
The precision medicine company said in a filing that it plans to offer 5.9M shares priced between $16 and $18, which would raise around $100M if priced at the midpoint. Underwriters would receive a 30-day option to buy up to 885K additional shares to cover any over-allotments.
Acrivon’s lead drug candidate is ACR-368, also known as prexasertib, which is being advanced into Phase 2 testing for the treatment of bladder, endometrial and ovarian cancers, along with HPV+ tumors. The company has also developed a companion diagnostic called OncoSignature to help identify which patients would benefit from ACR-368.
Acrivon first filed for an IPO in October, seeking around $100M.
Image and article originally from seekingalpha.com. Read the original article here.