(Reuters) – Bicara Therapeutics raised $315 million in its initial public offering in the United States, the TPG-backed cancer therapy developer said on Thursday.
The company priced its offering of 17.5 million shares at $18 apiece, at the high-end of its targeted range of $16 to $18 each. The IPO values Bicara at $881.4 million.
Bicara is among several drug developers that will test investor appetite with their IPOs in the coming weeks.
The company had initially planned on selling about 11.8 million shares, but Bicara upsized the offering to 14.7 million shares on Wednesday.
Morgan Stanley, TD Cowen, Stifel and Cantor Fitzgerald are the underwriters for the offering.
(Reporting by Gnaneshwar Rajan and Arasu Kannagi Basil in Bengaluru; Editing by Leroy Leo and Alan Barona)