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Cancer biotech Actuate Therapeutics files for a $50 million IPO

May 24, 2024

Actuate Therapeutics, a Phase 2 biotech developing in-licensed inhibitor therapies for difficult to treat cancers, filed on Friday with the SEC to raise up to $50 million in an initial public offering.

Actuate Therapeutics is focused on developing therapies for the treatment of high impact, difficult to treat cancers through the inhibition of glycogen synthase kinase-3 (GSK-3). The company has exclusively licensed a portfolio of GSK-3 inhibitors developed in a collaboration between the University of Illinois-Chicago and Northwestern University. Its lead candidate, elraglusib (9-ING-41), is being evaluated in a randomized Phase 2 trial in patients with metastatic pancreatic cancer, with top line results expected in the 1Q25.

The Fort Worth, TX-based company was founded in 2015 and plans to list on the Nasdaq under the symbol ACTU. Actuate Therapeutics filed confidentially on March 4, 2024. Titan Partners is the sole bookrunner on the deal. No pricing terms were disclosed.