This San Diego company hopped on the bandwagon of biopharma IPOs last week, offering 10.5M million shares at $18 apiece, a 38% increase, scooping up $189 million in proceeds. BioAtla is developing a novel class of specific and selective antibody-based therapeutics. The company’s “conditionally active biologics” only activate when they detect proximity to a tumor, thereby reducing systemic toxicity. Funds will propel the company’s two lead programs through three Phase II trials.