Neon Therapeutics, which is developing a targeted immunotherapy platform for various cancers, announced terms for its IPO on Friday.
The Cambridge, MA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. Insiders intend to purchase $35 million worth of shares in the offering. At the midpoint of the proposed range, Neon Therapeutics would command a fully diluted market value of $474 million.
Neon Therapeutics was founded in 2013 and it plans to list on the Nasdaq under the symbol NTGN. Morgan Stanley, BofA Merrill Lynch and Mizuho Securities are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.
