Wednesday, March 23, 2016

Corvus Pharmaceuticals Debuts In IPO

Burlingame-based Corvus Pharmaceuticals, a developer of immune therapy products to help treat cancer tumors, has raised $71M in an IPO. The company debuted on the NASDAQ Global Market as CRVS this morning, and was trading slightly down from its $15.00 IPO price. The company had originally estimated its IPO pricing range at between $15.00 and $17.00 per share. The IPO was underwritten by Credit Suisse, Cowen and Company, Guggenheim Securities, Cantor Fitzgerald & Co., and BTIG. The company was backed by OrbiMed, Novo A/S, Adams Street Partners, and Fidelity Management & Research.