Peninsula biotech returns with $92M offering after IPO postponement

RAPT Therapeutics Inc. returned to the IPO stage Tuesday following a reverse stock split and a July decision to delay its offering. The South San Francisco company, led by veterans of Genentech Inc. and Roche, hopes to raise $92 million to push cancer and inflammatory disease drugs through clinical trials. The move comes as biotech industry watchers say the market for initial public offerings has dampened ahead of a presidential election year and ongoing talk of drug price controls that could spook…

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