Cellectis, which is developing cancer immunotherapies based on gene-edited CAR T cells, raised the proposed deal size for its upcoming IPO on Tuesday.
The Paris, France-based company now plans to offer 4.75 million shares. At its Monday trading price on the Euronext Paris of $41.41, Cellectis would raise $197 million, or 53% more than previously anticipated. The company had previously filed to offer 3.5 million shares when it was trading at $36.83.
The company's stock has already rallied 4% today on top of its +9% gain yesterday. It is up over 225% since the beginning of the year and nearly +1600% since its December 2013 low. CAR T-cell immunotherapy has been an extremely hot space, as demonstrated by the performance of biotechs like Kite Pharma (KITE) and Juno Therapeutics (JUNO).
Cellectis, which was founded in 2000 and booked $26 million in collaboration revenue for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol CLLS. BofA Merrill Lynch, Jefferies & Co. and Piper Jaffray are the joint bookrunners on the deal. It is expected to price this week.
