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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.

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.

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