Tumor drug developer Actuate Therapeutics (ACTU.US) Increases IPO volume Fundraising amount will increase by 6% to $27 million.

Actuate Therapeutics (ACTU.US) is a second-phase biotechnology company developing an inhibitor therapy for the treatment of cancer. The company revised the terms of its upcoming IPO on Tuesday. It is now planning to issue 3 million shares of stock within a price range of $8 to $10, expecting to raise $27 million. It is worth noting that Actuate Therapeutics updated the terms in its latest filing, increasing the number of shares to be issued from 2.8 million to 3 million compared to the previous plan from last week. Initially, the company intended to issue 5.6 million shares. Based on the revised pricing midpoint, Actuate Therapeutics is expected to raise 6% more funds than originally anticipated. Actuate Therapeutics is focused on developing therapy for high-impact, difficult-to-treat cancers by inhibiting Glycogen Synthase Kinase-3 (GSK-3). The company holds exclusive rights to a GSK-3 inhibitor combination developed in collaboration with the University of Illinois at Chicago and Northwestern University. Its main candidate drug, elraglusib (9-ING-41), is currently being evaluated in a randomized Phase 2 trial for patients with metastatic pancreatic cancer, with final results expected to be announced in the first quarter of 2015. Based in Fort Worth, Texas, Actuate Therapeutics was founded in 2015 and plans to list on the NASDAQ under the symbol ACTU. Titan Partners is the sole managing underwriter for this transaction.