IN8bio, a Phase 1 biotech developing allogeneic gamma-delta T cell therapies for cancers, announced terms for its IPO on Thursday.
The New York, NY-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. At the midpoint of the proposed range, IN8bio would command a fully diluted market value of $325 million.
The company's pipeline contains lead candidates INB-200, which is currently in a Phase 1 trial for newly diagnosed glioblastoma, and INB-100, which is currently in a Phase 1 trial for patients with leukemia undergoing hematopoietic stem cell transplantation. Topline data is expected in 2021 and 2022, respectively.
IN8bio was founded in 2016 and plans to list on the Nasdaq under the symbol INAB. Barclays, Cantor Fitzgerald, and Mizuho Securities are the joint bookrunners on the deal. It is expected to price during the week of November 9, 2020.
