Revolution Medicines increases size of planned IPO and raises price range

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Revolution Medicines, a clinical-stage oncology company, on Tuesday increased the size of its planned initial public offering and raised the price range. In a filing with the Securities and Exchange Commission, the Redwood City, California-based company said it is now planning to offer 14 million shares priced at $16 to $17 each. An earlier filing said it would offer just 10 million shares priced at $14 to $16 each. JPMorgan, Cowen, SVB Leerink and Guggenheim are underwriters on the deal. Proceeds will be used to fund R&D, to move toward clinical trials for some candidates and for general corporate purposes. “We are a clinical-stage precision oncology company focused on developing novel targeted therapies to inhibit elusive, high-value frontier targets within notorious growth and survival pathways, with particular emphasis on the RAS and mTOR signaling pathways,” says the 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.

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