July 13 Quick Takes: Apogee prices $300M IPO

Apogee Therapeutics Inc. (NASDAQ:APGE) raised $300 million in an IPO on NASDAQ in the latest sign that the frozen market for fresh biotech paper may be thawing. The preclinical biologics play will begin trading Friday after upsizing its deal: it sold 17.7 million shares at the top end of its $15-$17 range; the company was seeking to sell 15.6 million shares. The deal gives the company a postmoney valuation of about $810 million.

Backed by Fairmount Funds and Venrock and spun out of Paragon Therapeutics Inc., the start-up has an experienced CFO in Jane Pritchett Henderson and is aiming for familiar targets. It is the fourth biotech to raise at least $25 million in a NASDAQ IPO this year and the first preclinical biotech to price a debut offering in the $25 million-plus range since gene editing company Prime Medicine Inc. (NASDAQ:PRME) listed in October...