Kite Pharma Sets IPO Range

Los Angeles-based biopharmaceuticals developer Kite Pharma has set an initial offering range for its IPO, saying in a filing this morning that it expects to sell 6 million shares of its common stock at between $12.00 and $14.00 per share. The company has applied to list on the NASDAQ Global Market as KITE. The company is venture backed by Pontifax, Alta Partners, and Commercial Street Capital, as well as David Bonderman. Kite Pharma is developing treatments for cancer.