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Arix Bioscience quids in after Harpoon completes flotation on NASDAQ

Harpoon is well-positioned to play a significant role in immuno-oncology, Arix said

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Harpoon’s stock began trading on the Nasdaq Global Select Market under the ticker symbol “HARP” on 8 February

Global healthcare and life sciences company Arix Bioscience PLC (LON:ARIX) said Harpoon Therapeutics, one of its portfolio companies, has completed its flotation on NASDAQ.

Harpoon, a clinical-stage immunotherapy company developing a novel class of T cell engagers, completed an initial public offering (IPO) of 5.4mln shares at US$14 a shot, raising US$75.6mln.

READ: Arix Bioscience boost after Harpoon NASDAQ float

Arix retains a stake of 12.1% in Harpoon, which was valued at £31.3mln at the close of business on 13 February 2019, representing a gain of £12.1mln on total cash invested in Harpoon by Arix.

Arix has a market capitalisation of around £220mln.

Quick facts: Arix Bioscience PLC

Price: 117.5 GBX

LSE:ARIX
Market: LSE
Market Cap: £159.27 m
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