The NASDAQ: PMVP at https://www.webull.com/quote/nasdaq-pmvp is a precision oncology company pioneering the discovery and development of small molecule, tumor-agnostic therapies targeting p53 mutations. p53 is a well-defined tumor suppressor protein known as the “guardian of the genome,” and normal, or wild-type, p53 can eliminate cancer cells.
A detailed study of p53 proteins
- However, mutant p53 proteins can be misfolded and lose their wild-type tumor-suppressing function. These p53 mutations are found in approximately half of all cancers. The p53 biology field was established by the co-founder Dr. Arnold Levine when he discovered the p53 protein in 1979.
- They have leveraged more than four decades of research experience and developed unique insights into p53 to create a precision oncology platform designed to generate selective, small molecule, tumor-agnostic therapies that structurally correct specific mutant p53 proteins to restore their wild-type function.
- They are deploying their precision oncology platform to target the top ten most frequent, or hotspot, p53 mutations collectively associated with approximately 10-15% of all cancers.
Anyhow, the Cranbury, NJ-based company plans to raise $125 million by offering 7.4 million shares at a price range of $16 to $18. At the midpoint of the proposed range, PMV Pharmaceuticals would command a fully diluted market value of $714 million.
Advanced research of proteins
They are thrilled to have Laurie and Rob join PMV Pharma in these critical roles. We advance our lead product candidate, PC14586, toward the clinic and expand and advance their pipeline of development programs based on their discovery platform.
A Highly qualified research team
With the PMV team’s depth and breadth of experience, particularly in identifying and advancing small molecules in oncology, they will be vital in helping us fulfill our mission of discovering and developing new targeted therapies for people with cancer who have limited treatment options.
Dedicated study of the mutation
Additionally, the company’s lead candidate, PC14586, is designed to potently and selectively correct p53 misfolding caused by a specific p53 mutation.
PMV Pharmaceuticals was founded in 2013 and planned to list on the NASDAQ: PMVP under the symbol PMVP. Goldman Sachs, BofA Securities, Cowen, and Evercore ISI are the joint bookrunners on the deal.
The Precision oncology biotech PMV Pharmaceuticals sets terms for a $125 million IPO originally appeared on IPO investment manager Renaissance Capital’s web site.
Disclosure of investment
Renaissance Capital’s research analysts prepared the information and opinions expressed herein. They did not constitute an offer to buy or sell any security or stocks like NASDAQ: TLRY at https://www.webull.com/quote/nasdaq-tlry, and its more detailed procedure has been given on the site to help us.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.