ArriVent outlines plans for $135M IPO in second biotech listing of 2024

Ar­riVent Bio­phar­ma, a Penn­syl­va­nia drug­mak­er de­vel­op­ing a Chi­na-ap­proved can­cer treat­ment for the US and oth­er ge­o­gra­phies, plans to raise net pro­ceeds of about $135 mil­lion in its Nas­daq list­ing.

It would be the sec­ond biotech IPO of the year af­ter CG On­col­o­gy last week out­lined its pitch for a $181 mil­lion Wall Street de­but.

Ar­riVent plans on sell­ing 8.33 mil­lion shares in its IPO and ex­pects to price at $17 to $19 per share $AVBP, per a Mon­day morn­ing SEC fil­ing. Biotechs tend to go pub­lic with­in a week of pen­cil­ing in their price range.

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