IPOs

Immuno-oncology biotech ALX Oncology prices upsized IPO at $19, above the range

ALX Oncology, a Phase 1 immuno-oncology biotech developing CD47 checkpoint inhibitors, raised $162 million by offering 8.5 million shares at $19, above the range of $15 to $17. The company offered 0.5 million more shares than anticipated. At pricing, the company commands a fully diluted market cap of $730 million.

ALX Oncology plans to list on the Nasdaq under the symbol ALXO. Jefferies, Credit Suisse, Piper Sandler and Cantor Fitzgerald acted as lead managers on the deal.

The article Immuno-oncology biotech ALX Oncology prices upsized IPO at $19, above the range 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.

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