Revolution Medicines, a Phase 1/2 biotech developing targeted cancer therapies using the RAS pathway, announced terms for its IPO on Monday.
The Redwood City, CA-based company plans to raise $150 million by offering 10 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Revolution Medicines would command a fully diluted market value of $850 million.
Revolution Medicines was founded in 2015 and booked $48 million in collaboration revenue for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol RVMD. J.P. Morgan, Cowen, SVB Leerink, and Guggenheim Securities are the joint bookrunners on the deal. It is expected to price during the week of February 10, 2020.
