Adaptimmune Therapeutics, a biopharmaceutical company based in Oxford, England, and Philadelphia, went public this week raising $191 million in an initial public stock offering.
The company, which has offices in the University City Science Center, is developing cancer immunotherapies using genetically enhanced T-cell receptors to improve the body’s ability to attack and destroy tumors.
Adaptimmune (NASDAQ: ADAP) sold 11.25 million shares of common stock at $17 per share, which was a top of the $15 to $17 range it had proposed in filing with the Securities and Exchange Commission. The stock was trading at $17.37 per share Friday morning.
The company expects the offering, which includes underwriters getting a 30-day option to buy up to an additional 1.7 million shares to cover overallotments, to close on May 11. Adaptimmune estimates its net proceeds from the offering will be about $175.7 million. Click here to read more.