Peloton Therapeutics, a Phase 2 biotech developing small-molecule HIF-2a inhibitors to treat kidney cancer, announced terms for its IPO on Monday.
The Dallas, TX-based company plans to raise $150 million by offering 9.4 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Peloton Therapeutics would command a fully diluted market value of $742 million.
Peloton Therapeutics was founded in 2010 and plans to list on the Nasdaq under the symbol PLTX. J.P. Morgan, Citi and Jefferies are the joint bookrunners on the deal. It is expected to price during the week of May 20, 2019.
