OncoMed Pharmaceuticals prices upsized IPO at $17, above the range
OncoMed Pharmaceuticals, which is developing new antibody therapeutics targeting cancer stem cells, raised $82 million by offering 4.8 million shares at $17, above the $14 to $16 range. The Redwood City, CA-based company had originally planned to raise 4 million shares but upped its deal size Wednesday morning. Insiders, including GSK, have indicated an interest in purchasing up to 21% of the deal. OncoMed now commands a market cap of $460 million, and will have approximately $132 million in cash on its balance sheet.
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