Aduro Biotech (ADRO) IPO Opens Up 88%

Today's IPO for Aduro Biotech, Inc. (Nasdaq: ADRO) opened for trading at $32 after pricing 7,000,000 shares of common stock at a price to the public of $17 per share, in-line with the expected pricing.

BofA Merrill Lynch and Leerink Partners LLC are acting as joint book-running managers for the proposed offering. William Blair and Canaccord Genuity are acting as co-managers.

Aduro Biotech, Inc. is a clinical-stage immuno-oncology company focused on the development of technology platforms to stimulate an immune response against cancer. Aduro’s lead platform is based on proprietary strains of live-attenuated, double-deleted (LADD) Listeria monocytogenes that induce a potent innate immune response and have been engineered to express tumor-associated antigens to induce tumor-specific T cell-mediated immunity. Aduro has received Breakthrough Therapy designation from the FDA for its lead LADD regimen, CRS-207 in combination with GVAX Pancreas in pancreatic cancer. The company is evaluating the proprietary immuno-oncology combination in the ongoing Phase 2b ECLIPSE clinical trial and has additional ongoing clinical trials with its LADD platform in mesothelioma and glioblastoma. The company is also developing clinical candidates using cyclic dinucleotide (CDN) synthetic small molecule immune modulators that are designed to activate the intracellular STING receptor, a central mediator of the innate immune response.

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