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Artiva Biotherapeutics, a US-based company that develops off-the-shelf, natural killer (NK) cancer therapies, has cancelled plans to go public in the US. Learn more about the withdrawn IPO, and find out about similar companies you can invest in from Canada.
On November 1, 2022, Artiva Biotherapeutics announced it was cancelling its plans to go public. Originally, the company had planned to conduct an IPO on the Nasdaq Global Market under the ticker symbol “ARTV.” Altogether, it was hoping to raise around $100 million USD.
Goldman Sachs & Co. LLC, Cowen and Company, LLC and Evercore Group, L.L.C. were slated to act as the lead underwriters of the deal. You can read more about the IPO in this document submitted to the US Securities and Exchange Commission (SEC) on June 6, 2022.
On November 3, 2022, Artiva announced it was partnering with Affimed, a Germany-based company that also develops cancer treatments, to produce a NK cell therapy. Both companies are aiming to get approved to begin testing in the first half of 2023.
Even though you won’t be able to buy Artiva Biotherapeutics stock, you can still invest in other companies that develop cancer treatments.
Company | Stock info |
---|---|
NYSE: BMY | |
NYSE: PFE | |
Bellicum Pharmaceuticals | Nasdaq Capital Market: BLCM |
ImmunityBio | Nasdaq Global Select Market: IBRX |
Nkarta | Nasdaq Global Select Market: NKTX |
You’ll need a brokerage account to buy and sell shares. Here’s how it works:
Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.
An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.
Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you’ll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you’ve already paid to the IRS.
Speak with a tax professional to find out what rules and exceptions apply in your circumstances.
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