Eye Care Firm SpyGlass Pharma Soars 65% In Trading Debut
Traders work on the floor the New York Stock Exchange.
Photographer: Michael Nagle/BloombergSpyGlass Pharma Inc. shares jumped 65% in the biopharmaceutical firm’s trading debut after it raised $150 million in an initial public offering.
The company’s shares closed at $26.40 each in New York on Friday, versus its IPO price of $16 apiece. The trading gives the Aliso Viejo, California-based company a market value of about $842 million, based on the outstanding shares in its filings.