ARMO Biosciences, which is developing immunotherapies targeting various cancers and solid tumors, announced terms for its IPO on Tuesday.
The Redwood City, CA-based company plans to raise $100 million by offering 6.7 million shares at a price range of $14 to $16. Insiders intend to purchase $40 million worth of shares in the offering. At the midpoint of the proposed range, ARMO Biosciences would command a fully diluted market value of $450 million.
ARMO Biosciences was founded in 2012 and plans to list on the Nasdaq under the symbol ARMO. Jefferies, Leerink Partners and BMO Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of January 22, 2018.
