Latest IPO on Nasdaq:-
'The RAS rush': Revolution Medicines bags remarkable $238M IPO raise, more than doubling original goal. Revolution Medicines made it. Less than a month after pencilling in $100 million for its IPO — divulging some details about its foray into the red hot KRAS race along the way — the biotech is going home with $238 million raised and a new ticker on the Nasdaq: $RVMD.It did so by offering 14 million shares at $17 each, the top of the range after the biotech revised its terms.
Tumor cells that are addicted to high levels of RAS activation, they believe selective inhibitors of RAS(ON) will suppress cell growth and survival and be less susceptible to adaptive resistance mechanisms recognized for RAS(OFF) inhibitors.
Execs plan to devote around $150 million to $175 million to fund the development of their RAS(ON) portfolio, including four programs designed to broaden the RAS horizon.
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