SpringWorks Therapeutics, a Phase 3 biotech developing small molecule therapies for rare cancers, raised the proposed deal size for its upcoming IPO on Thursday.
The Stamford, CT-based company now plans to raise $153 million by offering 9 million shares at a price range of $16 to $18. The company had previously filed to offer 7.4 million shares at the same range. At the midpoint of the revised range, SpringWorks Therapeutics will raise 22% more in proceeds than previously anticipated.
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 during the week of September 9, 2019.
