Small molecule biotechnology company Iambic Therapeutics (IAM.US) prices IPO at $15-$17 per share, aiming to raise $150 million.

Zhito Finance APP has learned that Iambic Therapeutics (IAM.US), a Phase 1 clinical-stage biotechnology company developing small molecule anticancer therapies based on its proprietary artificial intelligence (AI) platform, announced the terms of its IPO on Thursday. The San Diego, California-based company plans to raise $150 million by offering 9.4 million shares at a price range of $15 to $17 per share. Certain investors have indicated an intention to purchase $60 million worth of shares in the offering (40% of the deal). At the midpoint of the proposed price range, Iambic Therapeutics would have a fully diluted market value of $809 million.