ProNAi Therapeutics on deck for IPO

• Vancouver, British Columbia, Canada-based ProNAi Therapeutics(Pending:DNAI) is set for its IPO of 6.7M shares of common stock at $14 – 16.
• The clinical stage biotech develops cancer therapeutics based on its proprietary DNA interference (DNAi) technology. Its lead product candidate is PNT2258, which targets an oncogene that plays a key role in programmed cell death (apoptosis) called BCL2. In a recent Phase 2 study, the disease control rate (DCR) in patients with relapsed/refractory non-Hodgkin’s lymphoma who received PNT2258 was 85% (n=11/13). DCR includes complete responses, partial responses and stable (not progressing) disease). In addition, all four patients with diffuse large B-cell lymphoma who received PNT2258 experienced a clinical response, including three complete responses.
• 2014 Financials ($M): Operating Expenses: 22.6 (+463.7%); Net Loss: (73.7) (-487.7%); Cash Burn: (21.8) (-509.9%).

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