News brief­ing: Four biotechs an­nounce IPO terms, set­ting the pace to round out a busy year; FDA sets PDU­FA date for Kad­mon's graft-ver­sus-host drug

Four more biotechs set the terms for their IPOs, lin­ing up yet an­oth­er busy week on Wall Street.

Sil­ver­back Ther­a­peu­tics, which ini­tial­ly filed for a $100 mil­lion raise, is now shoot­ing for $125 mil­lion from 7 mil­lion shares at a range of $17 to $19. About $70 mil­lion is tagged for the com­pa­ny’s lead Phase I/Ib an­ti­body-drug con­ju­gate, SBT6050, for ad­vanced or metasta­t­ic HER2-ex­press­ing sol­id tu­mors. In­ter­im da­ta from the Phase I dose-es­ca­la­tion co­horts are ex­pect­ed in the sec­ond half of 2021. An­oth­er $55 mil­lion is set aside for Sil­ver­back’s two oth­er can­di­dates, which have yet to reach the clin­ic.

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