Precision BioSciences, an early stage cancer biotech developing gene-edited Car T cell therapies, announced terms for its IPO on Monday.
The Durham, NC-based company plans to raise $126 million by offering 7.9 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Precision BioSciences would command a fully diluted market value of $881 million.
Precision BioSciences was founded in 2006 and booked $11 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol DTIL. J.P. Morgan, Goldman Sachs, Jefferies and Barclays are the joint bookrunners on the deal. It is expected to price during the week of March 25, 2019.
