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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