SpringWorks Therapeutics, a clinical-stage biotech developing small molecule therapies for rare cancers, announced terms for its IPO on Tuesday.
The Stamford, CT-based company plans to raise $125 million by offering 7.4 million shares at a price range of $16 to $18. At the midpoint of the proposed range, SpringWorks Therapeutics would command a fully diluted market value of $725 million and an enterprise value of $427 million.
SpringWorks Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol SWTX. J.P. Morgan, Goldman Sachs and Cowen are the joint bookrunners on the deal. It is expected to price on Thursday, September 12, 2019.
