Cancer-Focused Biotech Co. Prices $60M IPO At Low End

Law360 (March 8, 2018, 9:54 PM EST) -- BioXcel Therapeutics Inc., a company using artificial intelligence to develop drugs that fight cancer and neurological disorders, raised $60 million in an initial public offering that priced at the bottom of its forecasted range, marking the month’s first IPO although more are in the pipeline.

Branford, Connecticut-based BioXcel, represented by Sheppard Mullin Richter & Hampton LLP, sold 5.5 million shares at $11. The company had planned to price shares between $11 and $13. Proceeds could rise to $69 million if underwriters elect to buy an additional...
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