Theseus Pharmaceuticals (THRX) IPO Opens 30% Higher

Today's IPO for Theseus Pharmaceuticals (NASDAQ: THRX) opened for trading at $20.80 after pricing 10,000,200 shares of its common stock at $16.00 per share.

Jefferies, SVB Leerink and Cantor are acting as joint book-running managers for the offering. Wedbush PacGrow is acting as lead manager.

Theseus is a biopharmaceutical company focused on improving the lives of cancer patients through the discovery, development and commercialization of transformative targeted therapies. Theseus is developing next-generation tyrosine kinase inhibitors (TKIs): "pan-variant" targeted therapies that address all major drug resistance mutations. Theseus' lead product candidate, THE-630, is a pan-variant KIT inhibitor for the treatment of patients with advanced gastrointestinal stromal tumors (GIST), whose cancer has developed resistance to earlier lines of kinase inhibitor therapy. Theseus is also developing a fourth-generation, selective epidermal growth factor receptor (EGFR) inhibitor for C797S-mediated resistance to first- or later-line osimertinib treatment in patients with non-small cell lung cancer (NSCLC).

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