Artiva cuts share price, increases volume for $167M IPO

After adjusting the specifics of its public debut, Artiva Biotherapeutics successfully navigated the IPO market late Thursday, raising $167 million. This figure exceeded its earlier estimate of $130.5 million. The cell therapy company managed to sell 13.9 million shares at $12 each. This accomplishment came on their second attempt at an IPO, after retracting their initial plans in 2022.

The number of shares sold represents a 60% increase compared to Artiva’s original proposal of 8.7 million shares, although the price per share saw a 20% reduction from the $15 midpoint of its initial target. This successful offering is notable as the first biotech IPO in the latter half of the year, following a notably slow second quarter that only welcomed three new companies to the public market.

Artiva Biotherapeutics is primarily known for its lead candidate, AlloNK. This is an allogeneic natural killer (NK) cell therapy currently under development for treating both cancer and autoimmune disorders.