News briefing: Kronos Bio sets terms for IPO, flirting with billion-dollar unicorn valuation; Corvus collabs with spinout, unveils positive Covid-19 data
Kronos Bio announced it’s looking to raise more than $200 million in its jump onto Nasdaq, flirting with a billion-dollar unicorn valuation.
The Cambridge, MA-based biotech — helmed by 28-year Gilead vet Norbert Bischofberger — set the terms of its IPO on Monday. It plans to offer 10.3 million shares at a range of $16 to $18, the midpoint of which would give it a fully diluted market value of $940 million. Kronos was named to the 2020 Endpoints 11 list a few days ago, featuring some of the top startups in biotech.
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