Attovia jumps on Nasdaq debut after upsizing IPO to $289 million
US immunology biotech Attovia Therapeutics (Nasdaq: ATTO) has raised $289 million in an upsized initial public offering and seen its shares climb around 29% on their first day of trading, in the latest sign that investors are once again willing to back clinical-stage drug developers.
The San Carlos, California company sold 17 million shares at $17 each, pricing at the top of its indicated range and well above the 12.5 million shares it had originally proposed. Underwriters hold a 30-day option on a further 2.55 million shares. The offering was due to close on August 6.
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