Peloton Therapeutics Plans IPO for Kidney Cancer Drug Clinical Trials
Summary
Dallas —Peloton Therapeutics, developer of small molecule drugs to treat kidney cancer and other diseases, has filed for an initial public offering to fund late-stage clinical trials. The Dallas-based biotech, founded in 2010, plans to raise up to $115 million from the IPO, according to its filing with the US Securities and Exchange Commission. Peleton notes in the filing that the capital from the planned IPO is unlikely to be enough to fund its drug candidates through regulatory approval, and that the company would likely need to raise additional investment. Earlier this month, Peloton reported that it has completed patient enrollment in a Phase 2 clinical trial to evaluate the efficacy and safety of PT2977 in treating VHL-associated renal cell carcinoma (RCC. ) Sixty-one patients are enrolled in clinical trial centers in the US and Europe, with preliminary results expected in the first half of 2020, Peloton said.
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