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Artiva Biotherapeutics (Nasdaq: ARTV) reported Q2 2024 financial results and recent business highlights. Key points include:
- Successful completion of a $179.0 million upsized IPO, extending cash runway through 2026
- Initiation of an investigator-initiated basket trial exploring AlloNK® in multiple autoimmune indications
- Treatment of the first patient in a Phase 1/1b trial for lupus nephritis (LN) and systemic lupus erythematosus (SLE)
- Q2 2024 financial results: $46.6 million in cash and investments (pre-IPO), $12.3 million in R&D expenses, and a net loss of $17.8 million
Artiva aims to report initial data on autoimmune indications from ongoing trials in the first half of 2025.
Artiva Biotherapeutics (Nasdaq: ARTV), a clinical-stage biotechnology company, announced the pricing of its upsized initial public offering (IPO) of 13,920,000 shares of common stock at $12.00 per share. This offering is expected to yield gross proceeds of approximately $167.0 million, before underwriting discounts and offering expenses. Additionally, underwriters have a 30-day option to purchase up to 2,088,000 additional shares at the IPO price. Shares will begin trading on Nasdaq under “ARTV” on July 19, 2024, with the offering closing on July 22, 2024, pending customary conditions. Jefferies, TD Cowen, and Cantor are joint book-running managers, with Wedbush PacGrow and Needham & Company as co-lead managers.
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