Turning Point Therapeutics Inc., which specializes in tyrosine kinase inhibitors (TKIs) for cancer, had one of the best-performing initial public offerings by a biopharmaceutical company this year when its IPO priced at $18 per share on April 16 and its stock closed up 60.6% at $28.90 at the end of its first day of trading on April 17.
Finance Watch: Turning Point Launches IPO, Stock Rises 60% On First Day
Public Company Edition: Turning Point's offering priced at $18 and its stock closed at $28.90. Also, Achaogen's bankruptcy reflects difficult antibacterial market, Ophthotech's name change follows strategy shift, and Gilead lays off 150 sales reps. Plus, cell and gene therapy FOPOs flourish.
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