ARTICLE | Finance
Strong demand in spotlight for Structure IPO
Upsized deal gives GPCR play fourth-largest NASDAQ debut in a year
February 3, 2023 11:00 PM UTC
Strong demand for Structure’s IPO is a welcome sign for a biotech sector that has struggled to find a warm reception in the public markets for months, but it’s unlikely the deal means the window for NASDAQ debuts is swinging open any time soon.
Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) rose $11 ($73%) to $26 in their first day of trading after the cross-border company, which is led by Receptos Inc. co-founder Raymond Stevens and backed by a syndicate of top biotech investors, upsized its deal late Thursday. ...