Context Therapeutics, a Phase 2 biotech developing therapeutics for female cancers, raised $25 million in its IPO by offering 5.0 million shares at $5, as expected.
The company originally filed to raise $20 million by offering 1.5 million shares at a range of $12 to $14, before slashing the proposed price and increasing the share offering on Monday.
Context Therapeutics is advancing its sole clinical candidate, ONA-XR, for the treatment of ovarian, breast, and endometrial cancer in multiple clinical trials, both as a monotherapy and in combination with other therapeutics. The company expects preliminary results of its Phase 2 trial of ONA-XR in ovarian cancer patients who express high levels of progesterone receptor (PR+) in the 2H21.
Context Therapeutics plans to list on the Nasdaq under the symbol CNTX. ThinkEquity acted as sole bookrunner on the deal.
