Nuvalent’s $300M offering; Spark ends epilepsy deal; A small IPO

Nu­va­lent ini­ti­ates $300M pub­lic of­fer­ing: The can­cer biotech on Mon­day an­nounced a $300 mil­lion of­fer­ing of its com­mon stock. The move fol­lows the com­pa­ny’s ear­ly Phase I re­sults last Fri­day for its ALK-se­lec­tive ty­ro­sine ki­nase in­hibitor can­di­date, NVL-655, in ALK-pos­i­tive non-small cell lung can­cer pa­tients. The drug reached a 39% ob­jec­tive re­sponse rate in the 51 pa­tients evalu­able at da­ta cut-off, al­though a hand­ful of re­spons­es have yet to be con­firmed. — Ay­isha Shar­ma

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