Allogene Therapeutics, a phase 1 biotech developing off-the-shelf CAR T cell cancer therapies, announced terms for its IPO on Tuesday.
The South San Francisco, CA-based company plans to raise $272 million by offering 16 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Allogene Therapeutics would command a fully diluted market value of $2.1 billion and an enterprise value of $1.4billion.
Allogene Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol ALLO. Goldman Sachs, J.P. Morgan, Cowen and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of October 8, 2018.
