The cancer immunotherapy developer, backed by GV, Celgene, Novartis and Taiho Ventures, has closed the offering after the underwriters bought another $18m of shares.
US-based cancer treatment developer Arcus Biosciences, which counts several corporates among its investors, closed its initial public offering at $138m yesterday after the underwriters fully took up the over-allotment option.
The company issued 8 million shares last week priced at $15 each, at the top of the IPO’s range, to raise an initial $120m. Its stock closed at $16.73 yesterday, after joint book-running managers Citigroup, Goldman Sachs and Leerink Partners bought a further 1.2 million shares.
Arcus is…
