Orum, Aardvark IPOs trade in opposite directions: Public Equity Report

Days after Korean biotech Orum priced its IPO, its shares got a lift in their first trading day Friday, while Aardvark’s offering received a cooler reception on NASDAQ.

Shares of Orum Therapeutics Inc. (KOSDAQ:475830) finished Friday’s trading session up 9% at ₩21,800, although they had traded as high as ₩29,950 during the day. On Feb. 3, the company said it had priced 2.5 million shares at ₩20,000 to raise ₩50 billion ($34.7 million). It’s the largest KOSDAQ offering by a biotech since the ₩52 billion offering by Voronoi Inc. (KOSDAQ:310210) in June 2022, according to BioCentury’s BCIQ database...