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BIO Magazine - Cancer Immunotherapy Remains Hot as Aduro Biotech Doubles in Value On IPO Debut Δεκέμβριος 2015
Δεκέμβριος 2015 No38

BIO Finance

Cancer Immunotherapy Remains Hot as Aduro Biotech Doubles in Value On IPO Debut

On Tuesday night, Aduro's IPO priced seven million shares at $17 per share, raising $119 million, excluding the underwriter's overallotment. Aduro opened for trading on Wednesday at $32 per share and is now trading at $35.26 per share, or more than double the IPO price. That gives the company a market value of more than $2 billion on its debut day. 

Must Read: 5 Health Care Stocks John Paulson Is Betting On for 2015 

Aduro's cancer immunotherapy platform tinkers with listeria, a common bacteria, to express proteins found on specific types of tumor cells. The re-engineered listeria is supposed to prime a patient's immune system to identify and kill the targeted cancer cells. The company's lead product, CRS-207, is in a phase II study of pancreatic cancer patients. 

A competitor, Advaxis (ADXS), is developing similar cancer immunotherapy drugs that also involve re-engineering listeria to stimulate a patient's immune system.

Must Read: Teva, Actavis, Other Giants Set to Battle for Generics Space

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