Nkarta (NKTX) to Raise $150 Million in IPO

Nkarta (NKTX) plans to raise $150 million in an initial public offering (IPO) on Friday, July 10th, IPO Scoop reports. The company will be issuing 10,000,000 shares at $14.00-$16.00 per share.

In the last year, Nkarta generated $2.3 million in revenue and had a net loss of $26.7 million. The company has a market cap of $393.4 million.

Cowen, Evercore ISI, Stifel and Mizuho Securities acted as the underwriters for the IPO.

Nkarta provided the following description of their company for its IPO: ”  We are a biopharmaceutical company focused on the discovery, development and commercialization of allogeneic, off-the-shelf engineered natural killer, or NK, cell therapies to treat cancer. Our approach for cellular immunotherapy involves chimeric antigen receptors, or CARs, on the surface of an NK cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells. The concept of a CAR builds upon and enhances the normal biology of T cells and NK cells, whereby naturally occurring receptors serve to activate these cells when a foreign pathogen or cancerous cell is detected.  “.

Nkarta was founded in 2015 and has 70 employees. The company is located at 6000 Shoreline Court, Suite 102, South San Francisco, CA 94080, US and can be reached via phone at 415-582-4923 or on the web at http://www.nkartax.com.

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