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Cancer biotech G1 Therapeutics sets terms for $100 million IPO

May 8, 2017
GTHX

G1 Therapeutics, a clinical-stage biotech developing novel therapeutics for cancer, announced terms for its IPO on Monday.

The Research Triangle Park, NC-based company plans to raise $100 million by offering 6.3 million shares at a price range of $15 to $17. At the midpoint of the proposed range, G1 Therapeutics would command a fully diluted market value of $479 million.

G1 Therapeutics was founded in 2008 and it plans to list on the Nasdaq under the symbol GTHX. J.P. Morgan and Cowen & Company are the joint bookrunners on the deal. It is expected to price during the week of May 15, 2017.