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?