Oncology company Arrivent Biopharma Inc.’s stock (NASDAQ:AVBP) shot up 11% on Jan. 26, its first day of trading, with its upsized IPO pricing 9.72 million shares at $18 each, raising gross proceeds of $175 million.
Shares of Corbus Pharmaceuticals Inc. (NASDAQ:CRBP) doubled on opening Jan. 26 and ended the day up a whopping 249% as investors got a look at data from a first-in-human study testing next-generation Nectin-4-targeted antibody-drug conjugate (ADC) CRB-701. Licensed from CSPC Pharmaceutical Group for $7.5 million up front in February 2023, CRB-701 has IND clearance from the U.S. FDA, and Corbus plans to start its own clinical testing in the first quarter of 2024.
Triple-negative breast cancer (TNBC) accounts for about 15% of invasive breast cancers, and due to the lack of well-established targets, TNBC has the worst prognosis among all breast cancer types.
Researchers from The Cleveland Clinic Foundation presented a novel targeted therapeutic peptide for the treatment of triple-negative breast cancer (TNBC).
Accent Therapeutics Inc. has completed a $75 million series C financing to support progression of its lead programs through early clinical development.
The discovery of how proteins fold and what happens if they don’t, or do it wrong, has impacted medicine. Protein function and several pathologies depend on folding. Four scientists, Franz-Ulrich Hartl, Arthur Horwich, Kazutoshi Mori and Peter Walter, revealed the role of chaperones in assisting proteins to acquire their correct structure and described a failure warning system, the unfolded protein response (UPR). For their studies, the researchers will receive the 2024 Frontiers of Knowledge Award in Biology and Medicine from the BBVA Foundation.
The first IPO of 2024 is a greatly upsized one from CG Oncology Inc., which is selling 20 million shares (NASDAQ:CGON) of its common stock at $19 each. Shares closed Jan. 25 95.6% higher at $37.17 each. The company initially had looked to raise about $200.6 million by selling its shares somewhere from $16 to $18 each but adjusted its thinking before the Jan. 25 debut, now anticipating gross proceeds of $389 million.
IMU Biosciences Ltd. has raised £11.5 million (US$14.7 million) in a series A round to further develop and commercialize profiling technology that can identify from a blood sample which of more than 2,000 cell types are present in an individual’s immune system.
Ovarian cancer diagnostics company, Cleo Diagnostics Ltd. has developed a blood-based diagnostic test for ovarian cancer based on the CXCL10 biomarker, which is produced early and at high levels by ovarian cancers but is largely absent in nonmalignant disease.
Mycosis fungoides (MF) is the most frequent form of cutaneous T-cell lymphoma. Although there are therapeutic options for the management of MF, long-term remission or complete cure are difficult to achieve with current drugs in the clinical setting.
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