With $1.3 billion raised to date and collaborations with major pharmas, this German biotech is a leader in the emerging area of mRNA therapies for cancer. BioNTech (BNTX) believes that its mRNA technology has the potential to individualize therapies for both patients and specific tumor cells.
Given the tenor of the market, BioNTech reduced its proposed market cap by 20% to $3.6 billion by cutting its filing range to $15 to $16 and the number of shares offered to 10 million.
Here are three other things you need to know about BioNTech.
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The article BioNTech IPO Gets Valuation Haircut originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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