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OncoMed Pharmaceuticals Inc. priced its initial public offering at $14 to $16 per share, hoping to raise as much as $73.6 million. The Redwood City cancer drug developer in May 2012 had outlined plans for a $115 million IPO, but said last week that it hoped to sell 4 million shares. The size of the offering raised speculation that the IPO would approach $75 million instead. Led by CEO Paul Hastings, OncoMed is developing monoclonal antibody drugs that target cancer stem cells, a relatively small subpopulation of stem cells in a tumor that drive the cancer to grow and spread.
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OncoMed Pharmaceuticals Inc. priced its initial public offering at $14 to $16 per share, hoping to raise as much as $73.6 million. The Redwood City cancer drug developer in May 2012 had outlined plans for a $115 million IPO, but said last week that it hoped to sell 4 million shares. The size of the offering raised speculation that the IPO would approach $75 million instead. Led by CEO Paul Hastings, OncoMed is developing monoclonal antibody drugs that target cancer stem cells, a relatively small subpopulation of stem cells in a tumor that drive the cancer to grow and spread.
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