PLTX News

Peloton Therapeutics, a Phase 2 biotech developing small-molecule HIF-2a inhibitors for kidney cancer, officially withdrew its plans for an initial public offering on Wednesday. In May of this year, Peloton announced that it would be acquired by Merck for $1.05 billion in cash, plus up to $1.15 billion in milestone payments; the announcement came one day before it was...read more

Three companies raised $776 million this week, adding to what has been a red-hot May for IPOs. One SPAC also raised $250 million. Leading the week was IDEAYA Biosciences (IDYA), which rose 12% on its first day and finished the week at +13% from its IPO. The company, a Phase 1 biotech developing targeted therapies for genetically-defined cancers, raised $50...read more

Peloton Therapeutics, a Phase 2 biotech developing small-molecule HIF-2a inhibitors for kidney cancer, announced on Tuesday that it would be acquired by Merck for $1.05 billion, plus up to $1.15 billion in milestone payments. It had filed to raise $150 million at a fully-diluted post-IPO market cap of $742 million. Primary shareholders included The Column Group, Remeditex...read more

Upcoming IPOs include four deals raising $868 million. In addition, a SPAC plans to raise $250 million. Don't expect many new additions to the calendar. After this week, the IPO market will get a short break, as companies hit pause until after Memorial Day. That said, new...read more