Gritstone Oncology, a preclinical biotech developing a therapy that enhances checkpoint immuno-oncology drugs, announced terms for its IPO on Monday.
The Emeryville, CA-based company plans to raise $85 million by offering 6.1 million shares at a price range of $13 to $15. Insiders intend to purchase $35 million worth of shares in the offering. At the midpoint of the proposed range, Gritstone Oncology would command a fully diluted market value of $419 million.
Gritstone Oncology was founded in 2015 and plans to list on the Nasdaq under the symbol GRTS. Goldman Sachs, Cowen and Barclays are the joint bookrunners on the deal. It is expected to price during the week of September 24, 2018.
