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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