Werewolf Therapeutics, a preclinical biotech developing immune therapies for cancer, announced terms for its IPO on Monday.
The Cambridge, MA-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Werewolf Therapeutics would command a fully diluted market value of $450 million.
The company's lead candidates, WTX-124 and WTX-330, are molecules designed to selectively activate an immune response in the tumor microenvironment. The company plans to file INDs with the FDA for both programs in the 1H22, after which it plans to conduct Phase 1/1b trials in patients with multiple tumor types both as standalone treatments and in combination with an immune checkpoint inhibitor.
Werewolf Therapeutics was founded in 2017 and plans to list on the Nasdaq under the symbol HOWL. Jefferies, SVB Leerink and Evercore ISI are the joint bookrunners on the deal. It is expected to price during the week of April 26, 2021.
