Actuate Therapeutics, a Phase 2 biotech developing an inhibitor therapy for difficult to treat cancers, revised the terms for its upcoming IPO on Tuesday.
The Fort Worth, TX-based company now plans to raise $27 million by offering 3 million shares at a price range of $8 to $10. The latest filing comes after a terms revision last week, where the company filed to offer 2.8 million shares at the same range. It originally planned to offer 5.6 million shares. At the midpoint, Actuate Therapeutics will raise 6% more in proceeds than previously anticipated.
Actuate Therapeutics is focused on developing therapies for the treatment of high impact, difficult to treat cancers through the inhibition of glycogen synthase kinase-3 (GSK-3). The company has exclusively licensed a portfolio of GSK-3 inhibitors developed in a collaboration between the University of Illinois-Chicago and Northwestern University. Its lead candidate, elraglusib (9-ING-41), is being evaluated in a randomized Phase 2 trial in patients with metastatic pancreatic cancer, with top line results expected in the 1Q25.
Actuate Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol ACTU. Titan Partners is the sole bookrunner on the deal.
