Biotechnology company Artiva Biotherapeutics (ARTV.US) priced its IPO at $12/share and is set to list on the Nasdaq tonight.
1min read Biotechnology company Artiva Biotherapeutics (ARTV.US), which focuses on developing NK cell-based treatments for patients with autoimmune diseases and cancer, announced the terms of its IPO, which consists of 1.39 million shares priced at $12 per share, raising $16.7 million. The price range was lower than the previous guidance of $14 to $16 per share, but the number of shares was higher than the previous guidance of 870,000 shares. Artiva Biotherapeutics is scheduled to begin trading on the Nasdaq on July 19, 2018, under the ticker symbol ARTV.
As part of the offering, Artiva also granted the underwriters a 30-day option to purchase up to an additional 20.88 million shares of common stock at the IPO price (net of underwriting discounts and commissions).
Artiva focuses on developing NK cell-based treatments for patients with autoimmune diseases and cancer. Its lead candidate, AlloNK, is currently in a Phase 1b clinical trial for lupus nephritis and is also in a multi-system autoimmune disease trial launched by a consortium of researchers. Artiva expects to report preliminary data from at least one trial by the first half of 2019.
The offering is expected to close on July 22, 2018.
