Another Immuno-Oncology Company, Another $90+ Million IPO

Harpoon Therapeutics announced that it will raise up to $93 million in its IPO. The company is offering 5,400,000 shares and is granting underwriters the option to purchase up to an additional 810,000 shares. The shares expected offering price is $13 to $15. Harpoon has applied to list our common stock on the Nasdaq Global Select Market under the trading symbol “HARP.”

Harpoon is developing a novel class of T cell therapeutics that aims to achieve superior efficacy in penetrating solid tumors as an “off-the-shelf” T cell therapy. The company currently has four candidates in development.

Its most advanced candidate in terms of development is HPN424. HPN424 is in Ph I trials and is for treating prostate cancer. Preliminary results from the Ph I trial indicated that the drug was activating T-cells and that it was well tolerated in terms of toxicity.

In November of 2018, the company raised $70 million in a series C round. The company entered into a research collaboration agreement with Abbvie in 2017.