Y-mAbs Therapeutics, a phase 2 biotech developing monoclonal antibody therapies for pediatric cancers, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $80 million by offering 5.33 million shares at a price range of $14 to $16. Insiders intend to purchase $30 million worth of shares in the offering (40% of the deal). At the midpoint of the proposed range, Y-mAbs Therapeutics would command a fully diluted market value of $518 million.
Y-mAbs Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol YMAB. BofA Merrill Lynch and Cowen are the joint bookrunners on the deal. It is expected to price during the week of September 17, 2018.
