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Finance Watch: Kronos Bio IPO Raises $250m To Fund Novel Cancer Drugs

 
• By Mandy Jackson

Initial public offerings by Norbert Bischofberger’s start-up as well as Spruce Biosciences and Shattuck Labs bring the US total to 64 in 2020. Also, the pipeline of health care SPACs is growing, Everest and Genor went public in Hong Kong, Idorsia leads recent follow-on offerings and Corbus cuts jobs.

Finance Watch

Kronos Bio, Inc. took advantage of strong financial market conditions for biopharmaceutical companies with an initial public offering that gives the company enough money to fund its operations into 2024. It has more than $400m in cash after grossing $250m from the sale of 13.2 million shares at $19 each in one of three IPOs to launch on 8 October. 

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