Public equity report: iTeos, ADC Therapeutics, Eledon draw fundings

Although it was a robust week for VC deals, financings in the public markets were relatively quiet, as a handful of biotechs tapped investors for cash concurrently with announcements of earnings or clinical milestones.

Early Friday, iTeos Therapeutics Inc. (NASDAQ:ITOS) reported 1Q24 earnings and said RA Capital Management and Boxer Capital led a $120 million registered direct offering, extending the biotech’s cash runway through 2027. iTeos sold shares and warrants at $17.50, a 44% premium to Thursday’s close of $12.19...