Markets

Cancer immunotherapy biotech CytomX sets terms for $100 million IPO

CytomX Therapeutics, a preclinical biotech developing tumor-activated cancer immunotherapies, announced terms for its IPO on Monday.

The South San Francisco, CA-based company plans to raise $100 million by offering 6.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, CytomX would command a fully diluted market value of $585 million. Existing investors Pfizer ( PFE ) and Bristol-Myers Squibb ( BMY ) intend to invest up to $15 million on the offering.

CytomX, which was founded in 2008, plans to list on the Nasdaq under the symbol CTMX. BofA Merrill Lynch, Jefferies and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of October 5, 2015.

The article Cancer immunotherapy biotech CytomX sets terms for $100 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , 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.


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

In This Story

CTMX BMY PFE

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More