CRGX News

Eleven US IPOs raised a combined $708 million in November, well below the month's historical 10-year average (16 IPOs, $4.2B). Deal flow was led by three sizable issuers, and remaining activity came from smaller companies, all of which raised $33 million or less. The month's IPOs averaged a weak -22% return from offer, and only two deals finished above issue, both of which raised...read more

Three IPOs and two SPACs debuted this week, while the pipeline got a boost from a flurry of initial filings. Oncology biotech CARGO Therapeutics (CRGX) priced at the bottom of the range to raise $281 million at a $611 million market cap. The biotech's lead program is an autologous CD22 CAR T-cell candidate, the underlying CAR of which the company exclusively...read more

CARGO Therapeutics, a Phase 2 biotech developing CAR T cell therapies for cancer, raised $281 million by offering 18.8 million shares at $15, the low end of the range of $15 to $17. CARGO Therapeutics' lead program, CRG-022, is an autologous CD22 CAR T-cell candidate, the underlying CAR of which the company exclusively licensed from the National Cancer Institute....read more

Another large biotech IPO has joined the calendar, seeking to buck the trend of mostly negative returns from recent listings in the industry. CARGO Therapeutics (CRGX) launched on Monday, planning to raise $300 million in what would be the year's fourth-largest biotech IPO to date. Its proposed deal size would put it in the largest 5% of biotech IPOs in the past...read more