Peloton Therapeutics (PLTX) expects to raise $150 million in an initial public offering on Thursday, May 23rd, IPO Scoop reports. The company will be issuing 9,400,000 shares at a price of $15.00-$17.00 per share.
Peloton Therapeutics has a market-cap of $711.4 million.
J.P. Morgan, Citigroup and Jefferies acted as the underwriters for the IPO.
Peloton Therapeutics provided the following description of their company for its IPO: ” We are a clinical stage biopharmaceutical company focused on translating novel scientific insights into first-in-class medicines for patients with cancer and other debilitating or life-threatening conditions. We are initially targeting HIF-2α, a transcription factor which was previously thought to be intractable using a small molecule. We are a leader in the field of HIF-2α biology and pioneered the first HIF-2α inhibitor drug candidate to enter into clinical development. Our lead drug candidate, PT2977, has shown clinical proof of concept in patients with advanced or metastatic clear cell renal cell carcinoma (“mRCC”), and we plan to initiate patient enrollment in an international Phase 3 clinical trial in previously treated mRCC patients in the second half of 2019. PT2977 is also in a Phase 2 clinical trial in patients with von Hippel-Lindau disease (“VHL disease”) associated renal cell carcinoma (“RCC”) in the United States and Europe. “.
Peloton Therapeutics was founded in 2010 and has 64 employees. The company is located at 2330 Inwood Road, Suite 226, Dallas, TX 75235, US and can be reached via phone at (972) 629-4100. or on the web at http://www.pelotontherapeutics.com.
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