Iambic Shares Close 18% Above IPO Price After Pricing $150 Million IPO

Iambic Therapeutics shares closed 18.19% above their $16 IPO price in the company’s first Nasdaq session Thursday, Oct. 15, giving the AI-focused drug developer an implied market value of about $896 million. The shares were at $18.50 at 12:21 p.m. ET (16:21 UTC), up 15.625% from the IPO price. They finished at $18.91 at 4 p.m. ET (20:00 UTC), a gain of $2.91 per share for the session. Iambic priced 9,375,000 shares at $16 on Wednesday, Oct. 14, for $150 million in expected gross proceeds before underwriting discounts, commissions and other offering expenses. The stock began trading under ticker IAM the following day. The IPO pricing implied a market value of about $758 million at the offer price.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.