ASCO spotlight presaged two more biotech IPOs angling for $215M
Two biotechs which spotlighted new cancer data during the last round at ASCO in early June are lining up IPOs to help fund their late-stage R&D work. Both companies filed in the lead-up to the long weekend.
First up is the oncology-focused Deciphera, which filed for a $100 million IPO just three months after banking a $52 million crossover round.
Somewhere along the way, Deciphera appears to have dropped its initial lead therapy — altiratinib — for reasons unknown to me. In its place, the biotech has been pushing along an early-stage program for DCC-2618 along with an even earlier-stage work on the immuno-oncology asset DCC-3014. Rebastinib is its third clinical-stage asset.
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