OncoArendi Therapeutics eyes raising PLN 53-66 mln from IPO

WSE-bound biotech company OncoArendi Therapeutics plans to raise PLN 53-66 million from the planned IPO, the company prospectus showed. It plans to issue between 0.5-2 million new shares which represent up to 14.63 percent stake in the company. On top of that, the company will offer up to 11.67 million of existing shares. The company wants to allocate PLN 24-29 million from the floating to finance the ongoing R&D projects, PLN 20-25 million to expand current projects, and PLN 9-12 million to finance new R&D projects.