Kidney cancer biotech Peloton Therapeutics sets terms for $150 million IPO

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Peloton Therapeutics, a Phase 2 biotech developing small-molecule HIF-2a inhibitors to treat kidney cancer, announced terms for its IPO on Monday.

The Dallas, TX-based company plans to raise $150 million by offering 9.4 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Peloton Therapeutics would command a fully diluted market value of $742 million.

Peloton Therapeutics was founded in 2010 and plans to list on the Nasdaq under the symbol PLTX. J.P. Morgan, Citi and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of May 20, 2019.

The article Kidney cancer biotech Peloton Therapeutics sets terms for $150 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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