Galera Therapeutics, a Phase 3 biotech developing treatments for radiotherapy-induced oral mucositis, raised $60 million by offering 5.0 million shares at $12, below the range of $14 to $16.
Insiders had indicated on buying up to $40 million of the IPO. At the offer price, Galera commands a fully diluted market value of $317 million.
Galera Therapeutics plans to list on the Nasdaq under the symbol GRTX. BofA Securities, Citi and Credit Suisse acted as lead managers on the deal.
