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Blueprint prices IPO above range, raises $147m

 
• By Sukaina Virji

Blueprint Medicines has priced its heavily oversubscribed initial public offering (IPO) of just over 8 million shares at $18.00 per share, above the initial range of $15-$17. This led to gross proceeds of $147m and a market capitalization of $465m, "a pleasing result for a young biotechnology company not in the immune-oncology space and with two drugs about to enter the clinic," noted Thilo Schroeder, partner at Blueprint investor Nextech Invest and former member of its board.

Blueprint Medicines has priced its heavily oversubscribed initial public offering (IPO) of just over 8 million shares at $18.00 per share, above the initial range of $15-$17. This led to gross proceeds of $147m and a market capitalization of $465m, "a pleasing result for a young biotechnology company not in the immune-oncology space and with two drugs about to enter the clinic," noted Thilo Schroeder, partner at Blueprint investor Nextech Invest and former member of its board.

The shares began trading on 30 April on the Nasdaq global market under the ticker 'BPMC'.

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