Silverback Therapeutics upsizes IPO, seeks to raise up to $200M

 

• The Seattle-based biopharma Silverback Therapeutics (SBTX) has upsized its IPO of 10M shares of common stock, to be priced between $19-$20 per share.
• The company initially planned to offer 6.95M shares at a price range of $17-$19 per share.
• Underwriters' over-allotment is an additional 1.5M shares.
• Goldman Sachs, SVB Leerink and Stifel are the lead underwriters.
• Below is the current status of the company’s drug development pipeline:
• • Financials (9 months): Net loss: $20M vs. $17M in 2019; Cash used in operations: $20M vs. $13M in 2019; Cash and equivalents: $142M.
  • https://seekingalpha.com/news/3641302-silverback-therapeutics-upsizes-ipo-seeks-to-raise-up-to-200m