Oncology biotech Ayala Pharmaceuticals sets terms for $50 million IPO

Ayala Pharmaceuticals, a Phase 2 biotech developing small molecule therapies for aggressive cancers, announced terms for its IPO on Monday.

The Rehovot, Israel-based company plans to raise $50 million by offering 3.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Ayala Pharmaceuticals would command a fully diluted market value of $189 million.