Harpoon Therapeutics Files for IPO

By Chris Lange Updated Jan 11, 1:12PM EST · Published Dec 28, 8:40AM EST

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Harpoon Therapeutics Files for IPO — © designer491 / iStock

Harpoon Therapeutics has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No pricing details were mentioned in the filing, although the offering is valued up to $86.25 million. The firm intends to list its shares on the Nasdaq under the symbol HARP.

The underwriters for the offering are Citigroup, Leerink Partners, Canaccord Genuity and Wedbush PacGrow.

This is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells.

Using the proprietary Tri-specific T cell Activating Construct (TriTAC) platform, the company is developing a pipeline of novel T cell engagers (TriTACs) initially focused on the treatment of solid tumors and hematologic malignancies.

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Since commencing operations in 2015, Harpoon has created four TriTAC product candidates, and management expects to have four TriTACs in clinical development by the end of 2020. Its lead TriTAC product candidate, HPN424, is currently in a Phase 1 clinical trial for the treatment of metastatic castration-resistant prostate cancer from which the firm expects to provide preliminary data in 2019. The second TriTAC product candidate, HPN536, is expected to enter clinical development in the first half of 2019 for the treatment of ovarian cancer and other mesothelin-expressing solid tumors.

The company intends to use the net proceeds from this offering as follows:

To fund the clinical development of HPN424 (PSMA-targeting TriTAC) and HPN536 (MSLN-targeting TriTAC).
The remaining proceeds to fund the development of the pipeline, including HPN217 (BCMA-targeting TriTAC), DLL3-Targeting TriTAC, ProTriTAC programs and discovery programs, and for other general corporate purposes, which may include the hiring of additional personnel, capital expenditures and the costs of operating as a public company.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.