Gritstone Oncology (GRTS) IPO Opens Flat

Today's IPO for Gritstone Oncology, Inc. (NASDAQ: GRTS) opened for trading at $15.20 after pricing 6,666,667 shares of common stock at a public offering price of $15.00 per share.

In addition, Gritstone Oncology has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Cowen and Company, LLC and Barclays Capital Inc. acted as joint book-running managers for the offering. BTIG, LLC acted as lead manager for the offering.

Gritstone Oncology is developing tumor-specific cancer immunotherapies to fight multiple cancer types. The company has built its tumor-specific immunotherapy approach on two key pillars—first, a proprietary machine learning-based platform, Gritstone EDGE™, which provides a powerful ability to predict from a routine tumor biopsy the tumor-specific neoantigens, or TSNA, that are presented on a patient’s tumor cells; and second, the ability to develop and manufacture potent immunotherapies utilizing patients’ TSNA to drive the patient’s immune system to attack and destroy tumors.

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