Repare Therapeutics, a preclinical biotech developing gene therapies for solid tumors, raised the proposed deal size for its upcoming IPO on Wednesday.
The Cambridge, MA-based company now plans to raise $190 million by offering 10 million shares at a price range of $18 to $20. The company had previously filed to offer 7.4 million shares at a range of $16 to $18. At the midpoint of the revised range, Repare Therapeutics will raise 52% more in proceeds than previously anticipated to command a fully diluted market cap of $708 million.
Repare Therapeutics was founded in 2016 and plans to list on the Nasdaq under the symbol RPTX. Morgan Stanley, Goldman Sachs, Cowen, and Piper Sandler are the joint bookrunners on the deal. It is expected to price during the week of June 15, 2020.
