Biotechnology company HCW Biologics, developing new immune drugs for cancer treatment, located in 2 research stage, attracted 56 million dollars, releasing 7,0 million shares in 8 dollars - the minimum price of the stated range from 8 to 10 dollars. Initially, the company planned to attract 50 million dollars, but increased the size of the offer of 25%. Taking into account the actual IPO price, the total diluted market value of HCW Biologics was 290 million dollars.
Directors and shareholders of the company, including general, CFO and Security Director, declared their interest in buying shares on 11,3 million dollars, or 20% deal.
HCW specializes in the discovery and development of new immune drugs to increase longevity, breaking the link between chronic, nonspecific inflammation and age-related diseases. The main indication for the use of the drug is oncology., and by the end 2021 the company plans to conduct four active trials to evaluate molecules for efficacy in cancer treatment. The company's HCW9201 molecule is currently being evaluated for the generation of NK cell products in two phase studies 2 for recurrent / refractory acute myeloid leukemia. Preliminary data is expected in 2 half 2021 of the year.
Company headquartered in Miramar, Florida, plans listing on the exchange Nasdaq under the ticker HCWB. EF Hutton became the sole organizer of the share issue.