Cancer biotech Intensity Therapeutics looks to pull in $16M+ IPO

Can­cer biotech In­ten­si­ty Ther­a­peu­tics launched an IPO as it aims to ad­vance a ther­a­py be­ing test­ed in sar­co­ma and breast can­cer.

The Con­necti­cut biotech an­nounced Fri­day that it will sell 3.9 mil­lion shares of its com­mon stock at $5.00 a share while giv­ing its un­der­writ­ers an op­tion to ac­quire more shares. In­ten­si­ty is plan­ning to net around $16.2 mil­lion from the IPO.

Ac­cord­ing to the S-1 sub­mit­ted to the SEC on June 23, the pro­ceeds of the IPO will go to­ward work on the com­pa­ny’s pipeline and will give In­ten­si­ty enough cash to last through Sep­tem­ber 30, 2024.

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