Prometheus has upsized its IPO, positioning it to reel in $190 million to bankroll clinical development of an anti-TL1A monoclonal antibody in IBD.
The San Diego-based biotech is now estimating a $167 million raise from their expected jump to Nasdaq, according to Renaissance Capital, a 33% increase from when they first filed their S-1. Prometheus had set its terms earlier this week, but now plans to offer 9 million shares instead of 7.4 million in the $18 to $19 range.
After four years working to turn around Bausch Health's Salix Pharmaceuticals, President Mark McKenna is leaving.
Prometheus Laboratories Inc. announced today that the PROMETHEUS Anser IFX test has been validated for use in patients treated with INFLECTRA (biosimilar infliximab) in the management of inflammatory bowel disease (IBD). Validation was demonstrated using specimens from INFLECTRA-treated patients with IBD.
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