Kadmon updates IPO terms

Kadmon Holdings LLC said it hopes to sell 5.6 million shares at $16-$20 in a planned IPO on NYSE. At the $18 midpoint, it would raise $100 million and have a post-money valuation of $613.3 million. Underwriters are Citigroup, Jefferies, JMP Securities and H.C. Wainwright.

Last month, Kadmon filed to raise up to $140 million. Its most advanced programs, autoimmune and fibrotic disease candidate KD025 and oncology therapy tesevatinib (XL647), are both in Phase II testing. KD025 is an oral selective inhibitor of Rho-associated coiled-coil containing protein kinase 2 (ROCK2). Tesevatinib is a tyrosine kinase inhibitor (TKI) that targets EGFR, VEGF receptor 2 (VEGFR-2; KDR/Flk-1), HER2 and Src...