IN8bio, a Phase 1 oncology biotech developing allogeneic gamma-delta T cell therapies, announced terms for its IPO on Thursday.
The New York, NY-based company plans to raise $44 million by offering 4 million shares at a price range of $10 to $12. At the midpoint of the proposed range, IN8bio would command a fully diluted market value of $215 million.
IN8bio originally planned to raise $75 million by offering 4.7 million shares at a price range of $15 to $17, but postponed the offering ahead of its pricing in November 2020.
The company's pipeline contains lead candidates INB-200, which is currently in a Phase 1 trial for newly diagnosed glioblastoma, and INB-100, which is currently in a Phase 1 trial for patients with leukemia undergoing hematopoietic stem cell transplantation. The company also expects to file three INDs for its pipeline candidates in the 1H22 and in 2023.
IN8bio was founded in 2016 and plans to list on the Nasdaq under the symbol INAB. B. Riley Securities is the sole bookrunner on the deal. It is expected to price during the week of July 26, 2021.
