SPPI - Oncology Biotech company Cullinan Management prices upsized IPO above expected range

Cullinan Management (CGEM) has priced upsized initial public offering of 11.9M common shares at $21/share, for expected gross proceeds of ~$249.9M.The company previously planned to raise $195M by offering 10M shares at a price range of $19 to $20 above the original offering of 8.3M shares at a range of $17 to $19. Underwriters' over-allotment is an additional 1.785M shares.Trading commences today on Nasdaq.Offering is expected to close on January 12.Below is the company's drug development pipeline:According to a 2017 market research report by Grand View Research, the global market for the treatment of non-small cell lung cancer was an estimated $6.2B in 2016 and is expected to reach $11.9B by 2025, representing a forecast CAGR of 7.5% from 2018 to 2025:Major competitors include: Takeda Pharmaceutical (TAK), Spectrum Pharmaceuticals (SPPI), Black Diamond Therapeutics (BDTX), Dizal Pharmaceutical, Genmab (GMAB), Seattle Genetics and Johnson & Johnson (JNJ).

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Oncology Biotech company Cullinan Management prices upsized IPO above expected range