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Oncology drug developer Actuate Therapeutics (ACTU) has set terms for a proposed $50M initial public offering.
Actuate said in an SEC filing that it was looking to offer 5.6M shares priced between $8 and $10, which would raise around $50M if priced at the midpoint. Underwriters would be granted a 30-day option to buy up to 833K additional shares to cover any over-allotments.
The company hopes to list its shares on Nasdaq under the symbol ACTU. Titan Partners is serving as sole bookrunner on the deal.
Based in Texas, Actuate’s lead drug candidate, elraglusib injection, is in Phase 2 testing for the treatment of pancreatic cancer.
More on Actuate Therapeutics, Inc.
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