Ayala Pharmaceuticals, a Phase 2 biotech developing in-licensed Notch inhibitors for aggressive cancers, raised $55 million by offering 3.7 million shares at $15, the midpoint of the $14 to $16 range.
The Israeli biotech raised 10% more than expected; it originally filed to offer 3.3 million shares.
Ayala Pharmaceuticals plans to list on the Nasdaq under the symbol AYLA. Citi and Jefferies acted as lead managers on the deal.
