Micro-cap biotech Anchiano Therapeutics prices IPO at $11.50, below the expected price
Anchiano Therapeutics, a Phase 3 biotech developing therapies for early-stage bladder cancer, raised $31 million by offering 2.7 million ADSs at $11.50, below the expected price of $14.55.
At $11.50, Anchiano Therapeutics would command a market cap of $78 million. The company previously filed to raise $35 million by offering 2.4 million ADSs at $14.55.
Anchiano Therapeutics plans to list on the Nasdaq under the symbol ANCN. Oppenheimer & Co. acted as a lead manager on the deal.
The article Micro-cap biotech Anchiano Therapeutics prices IPO at $11.50, below the expected price originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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