The clinical-stage company intends to use the capital to sustain its research into bispecific antibodies for immunology and inflammation treatments. Executives project that these funds, combined with current cash reserves, will provide enough runway to cover operating expenses and capital requirements through the end of 2028. Upon completion of the offering, Bambusa expects to have 51.2 million shares outstanding, valuing the firm at roughly $820 million based on the $16 midpoint. The company has applied for a listing on the Nasdaq Global Select Market under the ticker symbol BBTX.
In section Market Quotes
Bambusa Therapeutics Targets $155 Million in Nasdaq IPO
Boston-based biopharmaceutical firm Bambusa Therapeutics is looking to raise approximately $134.9 million through an initial public offering of 9.4 million shares. Priced between $15 and $17, the offering could climb to $155.8 million should underwriters choose to exercise their options for additional stock.
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