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July 13, 2020, 6:31 a.m. EDT

Pandion Therapeutics to offer 5.5 million shares in planned IPO, priced at $16 to $18 each

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By Ciara Linnane

Pandion Therapeutics set terms for its initial public offering on Monday with plans to offer 5.5 million shares priced at $16 to $18 each, according to a regulatory filing. The clinical-stage biotech, which specializes in treatments for autoimmune diseases, has applied to list on Nasdaq, under the ticker "NAND." Goldman Sachs, Morgan Stanley, SVB Leerink and BMO Capital Markets are underwriting the deal. Proceeds will be used to fund clinical trials, R&D and for working capital and other general corporate purposes.

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