Biotech IPO Shares Climb in Trading Debuts
The offerings make this week the busiest for biotech and pharmaceutical IPOs since July 2021.
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A trio of biotech companies’ Bicara, MBX and Zenas
shares rose in their first trading sessions after they each sold more shares than planned in their respective IPO's as per Bloomberg#ipo #biotech #startuphttps://t.co/BKkBWn0GM0— The_Journalbiz (@the_journalbiz) September 13, 2024
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A trio of biotech companies’ shares rose in their first trading sessions after they each sold more shares in their respective initial public offerings than they had planned.
Bicara, MBX, and Zenas increased the number of shares in their IPOs. Most other biotech IPOs this year fell below the offering price
- Bicara Therapeutics Inc. shares climbed 42% to $25.50 apiece as of 1:22 p.m. on Friday. The company had expanded its IPO to sell 17.5 million shares at $18 each, at the top of the price range, to raise $315 million, according to a statement.
- Shares of MBX Biosciences Inc. rose 43% to $22.87 each. Its enlarged first-time share sale raised $163 million, pricing 10.2 million shares at $16 each at the upper limit of the price range.
- Zenas BioPharma Inc. shares increased 4.4% to $17.75 each. The IPO raised $225 million, priced at $17 apiece, the middle of the marketed range.
The offerings make this week the busiest for biotech and pharmaceuticals IPOs since July 2021, data compiled by Bloomberg show. They bring the volume this year raised by drug developers via IPOs to $2.7 billion, a nearly 60% jump from the same period in 2023, the data show.
