CG Oncology and ArriVent Raise a Combined $555M in IPOs
CG Oncology
- CG Oncology plans to use $183.8 million of the net proceeds from its IPO to fund research and development for cretostimogene, as well as manufacturing activities.
- The remaining funds will be allocated for working capital, general corporate purposes, and pre-commercial activities.
ArriVent
- ArriVent intends to set aside $50 million to $60 million of its IPO proceeds to support NDA activities for furmonertinib, specifically for its use as a first-line therapy for patients with EGFRm NSCLC involving exon 20 insertion mutations.
CG Oncology and ArriVent have successfully raised a combined total of $555 million through their IPOs. CG Oncology plans to allocate a significant portion of its proceeds towards the research and development of cretostimogene, while ArriVent intends to use a large share of its funds to support NDA activities for furmonertinib. These successful IPOs demonstrate investor confidence in the potential of these biotechnology companies and their innovative therapies.