Early Stage Oncology Biotech Files for $100 Million IPO

Turning Point Therapeutics, Inc., a clinical-stage precision oncology company designing and developing novel drugs to address treatment resistance, announced today it has filed a registration statement with the Securities and Exchange Commission (SEC) relating to a proposed initial public offering of common stock. The number of shares to be offered and the price range have not yet been determined. Though the filing does propose a maximum offering price of $100 million.

The company has applied to list its stock on the Nasdaq Global Market under the symbol “TPTX.”

The company describes itself as a clinical-stage biopharmaceutical company designing and developing novel small molecule, targeted oncology therapies to address key limitations of existing therapies and improve the lives of patients. Their internally developed and wholly owned pipeline of next-generation tyrosine kinase inhibitors (TKIs) targets numerous genetic drivers of cancer in both TKI-naïve and TKI-pretreated patients. The company currently has four development programs. Turning Point plans to initiate Ph II trials of its lead canditate, repotrectinib, in 2H 2019.