Aug. 6 at 12:16 AM
Attovia Therapeutics shares jumped 24% in their Nasdaq debut after the clinical-stage biopharmaceutical company raised
$289 million in its IPO. The stock opened at
$21 per share, above its
$17 IPO price, giving the company an initial market value of nearly
$904 million.
The company sold 17 million shares at
$17 each and granted underwriters a 30-day option to purchase up to 2.55 million additional shares at the offering price. The transaction is expected to close on August 6, subject to customary closing conditions.
Attovia is developing novel therapeutics using a technology platform and intellectual property licensed from Alamar Biosciences, which spun off the company in 2023 and remains an investor. Alamar completed its own IPO earlier this year, raising about
$220 million, and its shares have gained nearly 70% since listing.
The IPO was led by Morgan Stanley, Leerink Partners, Citigroup, and RBC Capital Markets as joint book-running managers
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