Health
Biotech IPO Shares Climb in Debuts After Deals Upsized
- Bicara, MBX and Zenas increased number of shares in their IPOs
- Most other biotech IPOs this year fell below offering price
The offerings make this week the busiest for biotech and pharmaceuticals IPOs since July 2021.
Photographer: Shoko Takayasu/BloombergThis article is for subscribers only.
A trio of biotech companies’ shares rose in their first trading sessions after they each sold more shares in their respective initial public offerings than they had planned.
Bicara Therapeutics Inc. shares climbed 30% to $23.41 apiece as of Friday’s close. The company had expanded its IPO to sell 17.5 million shares at $18 each, at the top of the price range, to raise $315 million, according to a statement.