Precision Oncology-Focused Biotech Nuvalent Files For $100M IPO

  • Less than six months after emerging from stealth, the Deerfield-backed biotech Nuvalent NUVL is already prepping a Nasdaq debut.
  • Nuvalent filed its S-1 IPO prospectus with the SEC, penciling in the $100 million raise. 
  • It’s also a big win for Deerfield, which helped launch Nuvalent to the tune of a $50 million Series A and currently owns more than 65% of shares.
  • Nuvalent lead product, NVL-520, is a brain-penetrant ROS1-selective inhibitor and is expected to begin clinical trials in patients with ROS1-positive non-small cell lung cancer (NSCLC) and other advanced solid tumors in 2Q of 2021.
  • The second lead product candidate, NVL-655, is a brain-penetrant ALK-selective inhibitor and plans to start a Phase 1/2 trial in ALK-positive NSCLC in 1H of 2022.
  • Some of the IPO cash will also be earmarked for preclinical programs targeting ALK, IXDN, and HER2 Exon 20 Insertions.
  • In addition to Deerfield, Bain Capital also owns a significant chunk of the company, clocking in at 7.3%. Fidelity Management has a 6.1% stake, while Shair himself owns 6.5% of shares. CEO James Porter has taken home a modest 1%.
  • In May, the company completed $135 million Series B financing.
  • When Nuvalent goes public, it will trade under the ticker $NUVL.

Posted In: Bain CapitalBriefsNon-Small Cell Lung CancerBiotechNewsHealth CareOfferingsIPOsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.