Septerna’s GPCRs draw strong demand in $288M IPO

Strong demand for shares of Septerna enabled the company to raise what is already the sixth-largest IPO on NASDAQ this year, a $288 million offering that could yet swell in size.

The GPCR-focused biotech had already upsized its proposal once during the week before pricing even more shares than expected. After setting expectations on Monday with terms that pointed to a $175 million listing at the midpoint of its range, Septerna Inc. (NASDAQ:SEPN) revised its proposal to suggest it might raise about $275 million...