Bolt Biotherapeutics, a Phase 1/2 biotech developing targeted therapies for solid tumors, announced terms for its IPO on Monday.
The Redwood City, CA-based company plans to raise $150 million by offering 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Bolt Biotherapeutics would command a fully diluted market value of $596 million.
The company's pipeline contains lead candidate BDC-1001, a HER2 Boltbody Immune-Stimulating Antibody Conjugate. In preclinical safety studies, BDC-1001 was well tolerated and no adverse safety signals were observed. BDC-1001 is currently in a Phase 1/2 trial for the treatment of patients with HER2-expressing solid tumors, and the company expects to move into Phase 2 dose expansions in key solid tumor indications with unmet medical need in 2021.
Bolt Biotherapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol BOLT. Morgan Stanley, SVB Leerink, Stifel and Guggenheim Securities are the joint bookrunners on the deal.
