Apnimed IPO Prices at $16 High End, Upsized to $192M, Shares Jump
Tom Rudovsky · Reported by Dow Jones Newswires
Sentiment
Positive
Importance
7
Price
$18.95
Mkt Cap
0
52W Low
0
52W High
0
52W Position
Off High
Rel. Volume
Market data snapshot near publication time
Summary
Apnimed priced its IPO at $16 per share, the top of the $14-$16 range, and upsized the deal to 12 million shares from 10 million, raising $192 million. The stock opened at $22.00, a 37.5% pop, and was recently at $17.38, up 8.6%. Strong demand and pricing at the high end signal investor appetite for the clinical-stage pharma company. The upsized deal and initial trading pop provide a positive read-through for biotech IPO sentiment.
At the time of this announcement, APMD was trading at $18.95 on NASDAQ in the Life Sciences sector. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.