RAPT Therapeutics, a Phase 1 biotech developing therapies for cancer and inflammatory diseases, raised $36 million by offering 3.0 million shares at $12, the low end of the range of $12 to $14. Insiders had indicated on purchasing $30 million of the deal. At IPO, the company commands a fully diluted market value of $262 million.
RAPT Therapeutics plans to list on the Nasdaq under the symbol RAPT. BMO Capital Markets, Wells Fargo Securities and UBS Investment Bank acted as lead managers on the deal.
