Nurix Therapeutics, a preclinical biotech developing small molecule therapies for cancer, raised the proposed deal size for its upcoming IPO on Thursday.
The San Francisco, CA-based company now plans to raise $193 million by offering 11 million shares at a price range of $17 to $18. The company had previously filed to offer 8.8 million shares at a range of $16 to $18. At the midpoint of the revised range, Nurix Therapeutics will raise 29% more in proceeds than previously anticipated to command a fully diluted market cap of $693 million.
Nurix Therapeutics was founded in 2009 and booked $19 million in collaboration revenue for the 12 months ended May 31, 2020. It plans to list on the Nasdaq under the symbol NRIX. J.P. Morgan, Piper Sandler and Stifel are the joint bookrunners on the deal. It is expected to price during the week of July 20, 2020.
