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Female cancer biotech Context Therapeutics sets terms for $20 million IPO

July 2, 2021

Context Therapeutics, a Phase 2 biotech developing therapeutics for female cancers, announced terms for its IPO on Friday.

The Philadelphia, PA-based company plans to raise $20 million by offering 1.5 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Context Therapeutics would command a fully diluted market value of $94 million.

Context Therapeutics is advancing its sole clinical candidate, ONA-XR, for the treatment of ovarian, breast, and endometrial cancer in multiple clinical trials, both as a monotherapy and in combination with other therapeutics. In 2019, the company began a Phase 2 trial of ONA-XR in ovarian cancer patients who express high levels of progesterone receptor (PR+), with preliminary results expected in the second half of 2021. In 2020, the company also initiated a Phase 2 trial of ONA-XR in combination with Arimidex in PR+ endometrial cancer patients, with preliminary data expected in the first half of 2022. Memorial Sloan Kettering Cancer Center and Wisconsin Oncology Network are also conducting trials of ONA-XR in breast cancer in collaboration with the company. 

Context Therapeutics was founded in 2015 and plans to list on the Nasdaq under the symbol CNTX. ThinkEquity is the sole bookrunner on the deal.