Biotech Inhibrx to offer 6 million shares in planned IPO, priced at $16 to $18 each

/ / News

Biotech Inhibrx set terms for its initial public offering on Wednesday with plans to offer 6 million shares priced at $16 to $18 each. The company has applied to list on Nasdaq under the ticker “INBX.” Jefferies, Evercore ISI, Credit Suisse and LifeSci Capital are underwriting the deal. Proceeds will be used to fund clinical research, for R&D and general corporate purposes. “We are a clinical-stage biotechnology company with a pipeline of novel biologic therapeutic candidates, developed using our protein engineering expertise and proprietary single domain antibody, or sdAb, platform,” the company says in its prospectus. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.