Theseus Pharmaceuticals, a preclinical biotech developing pan-variant kinase inhibitors for solid tumors, raised $160 million by offering 10 million shares at $16, the high end of the $14 to $16 range. The company sold 20% more shares than anticipated, according to a form S-1MEF filed Wednesday.
Theseus Pharma is focused on developing "pan-variant" kinase inhibitors for cancers. The company recently submitted an IND application for its lead candidate in patients with advanced gastrointestinal stromal tumors (GIST), and if cleared by the FDA, it plans to initiate a Phase 1/2 trial by the 1Q22.
Theseus Pharmaceuticals plans to list on the Nasdaq under the symbol THRX. Jefferies, SVB Leerink, and Cantor Fitzgerald acted as joint bookrunners on the deal.
