Kiromic BioPharma, a preclinical biotech developing immunotherapies for blood cancers and solid tumors, announced terms for its IPO on Friday.
The Houston, TX-based company plans to raise $25 million by offering 1.9 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Kiromic BioPharma would command a fully diluted market value of $119 million.
Kiromic's pipeline consists of four early-stage product candidates targeting blood cancers and solid tumors. Kiromic utilizes its proprietary target discovery platform, Diamond, to identify new cancer immunological targets for T cells and B cells. The company is also developing a non-viral gene editing mechanism, called ABBIE (A Binding-Based Integrase Enzyme), for delivering its product candidates.
Kiromic BioPharma was founded in 2006 and plans to list on the NYSE American under the symbol KRBP. ThinkEquity is the sole bookrunner on the deal.
