ArriVent Biopharma in Newtown Square plans to initiate a public stock offering to raise between $137.5 million and $160 million for the development and launch of a drug to treat advanced non-small cell lung cancer.

Furmonertinib is now in late-stage clinical testing. It is already approved in China and marketed by Allist, writes John George for the Philadelphia Business Journal.

The ArriVent stock offering would also advance ArriVent’s collaboration on cancer drug development with Aarvik Therapeutics.

ArriVent submitted plans to the Securities and Exchange Commission Monday to sell 8.33 million shares of its common stock between $17 and $19 per share.

It raised $155 million last year through a private stock sale.

The company is focused on bringing biopharmaceutical medicines approved and developed in China to the U.S. and European Union.

ArriVent is the second Delaware County life science firm to go public with a stock offering. Last year, Mineralys Therapeutics of Radnor raised $192 million by selling 12 million shares of common stock.

ArriVent was founded in 2021 and led by co-founder and CEO Bing Yao.

The company’s other co-founder, former Genentech senior researcher Dr. Stuart Lutze, is ArriVent’s president of research and development.

Find out more about ArriVent’s investors and stocks in the Philadelphia Business Journal.