Kardigan surges 38% in Nasdaq debut after $400 million IPO
US cardiovascular biotech Kardigan (Nasdaq: KARD) made a strong Nasdaq debut on Thursday, with its shares closing 37.5% above their initial public offering (IPO) price after the company raised $400 million.
The stock opened at $16.25, just above the $16 IPO price, and ended its first trading session at $22. Kardigan sold 25 million shares at the top of its marketed range of $14 to $16, after increasing the offering from 23.3 million shares.
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