Ayala Pharmaceuticals, a Phase 2 biotech developing small molecule therapies for aggressive cancers, filed on Friday with the SEC to raise up to $50 million in an initial public offering.
The Rehovot, Israel-based company was founded in 2017 and booked $2 million in licensing revenue for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol AYLA. Ayala Pharmaceuticals filed confidentially on January 8, 2020. Citi and Jefferies are the joint bookrunners on the deal. No pricing terms were disclosed.
