Valuations spiral into billions as trio of IPOs post big aftermarket gains: Data Byte

Design Therapeutics became the latest preclinical company to score a billion-dollar valuation as it went public ahead of Friday’s session, and its shares more than doubled in value during the day.

The company was one of three biopharmas to go public ahead of trading Friday, alongside Edgewise Therapeutics Inc. (NASDAQ:EWTX) and Ikena Oncology Inc. (NASDAQ:IKNA), both of which also rose sharply in value amid high demand...