ARTICLE | Finance
Friday IPOs: Warm reception for RayzeBio as Neumora sags in first-day trading
As a pair of biotechs raise a combined $540M in NASDAQ offerings, how have other listings in the sector fared in the aftermarket this year?
September 15, 2023 10:00 PM UTC
Radiopharma company RayzeBio’s NASDAQ listing outperformed expectations, in both its upsized pricing and its aftermarket performance Friday. Another offering, by neurology company Neumora, priced in line with the company’s proposed terms before the biotech’s shares stumbled in first-day trading.
The companies were the seventh and eighth biopharmas to price NASDAQ offerings of at least $25 million in 2023. After a quiet August, the pair’s listings signaled continued demand for listings by clinical biotechs, particularly those with mid-stage data...