[ad_1]
Andrey Tolkachev
Oncology drug developer Turnstone Biologics (TSBX) has set terms for a proposed $75M initial public offering.
Turnstone said in a filing that it is looking to offer 5.8M shares priced between $12 and $14, which would raise around $75M if priced at the midpoint. Underwriters would receive a 30-day option to buy up to 870K additional shares at the IPO price to cover over-allotments.
The biotech company hopes to list its shares on Nasdaq under the symbol TSBX. BofA Securities, Leerink Partners and Piper Sandler are serving as joint bookrunners.
Based in La Jolla, Calif., Turnstone’s lead drug candidate, TIDAL-01, is in Phase 1 testing for the treatment of breast cancer, colorectal cancer and uveal melanoma. The company is focused on developing tumor infiltrating lymphocyte therapies.
The IPO is expected to price this week, according to Renaissance Capital.
More on Turnstone:
[ad_2]