BioCentury
ARTICLE | Financial News

Kite Pharma sets IPO range

June 11, 2014 11:38 PM UTC

Cancer immunotherapy company Kite Pharma Inc. (Los Angeles, Calif.) amended its planned IPO on NASDAQ and now plans to sell 6 million shares at $12-$14. At the $13 midpoint, the company would raise $78 million and be valued at $473.6 million. Jefferies; Credit Suisse; Cowen; and Stifel are underwriters. Kite is developing therapeutics using its autologous T cell technology, which the company has dubbed engineered adoptive cell therapy (eACT). The therapy involves modifying a patient's T cells ex vivo using a retroviral vector to express either T cell receptors or chimeric antigen receptors (CARs) designed to recognize and destroy cancer cells. ...