Alston & Bird client Nuvectis Pharma Inc., an oncology-focused biopharmaceutical company based in Fort Lee, NJ, has announced the closing of its initial public offering (IPO) of 3.2 million shares of common stock at a price of $5 per share, for gross proceeds of $16 million before deducting underwriting discounts and offering expenses. All shares of common stock were offered by Nuvectis.
The company plans to use the net proceeds from the IPO for continued product development and sponsored research related to its current and future product candidates, hiring additional personnel, capital expenditures, operating costs, and other general corporate purposes.
Listed on Nasdaq, Nuvectis is a biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions and to address unmet medical needs in oncology.
Representing Nuvectis in the IPO is an Alston & Bird team led by partner Matt Mamak (Corporate & Business Transactions) and consisting of partners Mike Stevens (Employee Benefits & Executive Compensation), Mark McElreath (Corporate & Business Transactions), Clay Littlefield (Federal & International Tax), and Noël Para (Finance), senior associate Robyn Downing, and associates Laura Giambalvo, Siena Cornacchini, and Jeff Hill (Corporate & Business Transactions).
The company plans to use the net proceeds from the IPO for continued product development and sponsored research related to its current and future product candidates, hiring additional personnel, capital expenditures, operating costs, and other general corporate purposes.
Listed on Nasdaq, Nuvectis is a biopharmaceutical company focused on the development of innovative precision medicines for the treatment of serious conditions and to address unmet medical needs in oncology.
Representing Nuvectis in the IPO is an Alston & Bird team led by partner Matt Mamak (Corporate & Business Transactions) and consisting of partners Mike Stevens (Employee Benefits & Executive Compensation), Mark McElreath (Corporate & Business Transactions), Clay Littlefield (Federal & International Tax), and Noël Para (Finance), senior associate Robyn Downing, and associates Laura Giambalvo, Siena Cornacchini, and Jeff Hill (Corporate & Business Transactions).