Finance Watch: Biopharma Stocks See Big Post-IPO Jumps

Public Company Edition: Five out of six drug developers and a CRO have seen their values spike immediately after going public this month. Also, Moderna floats a $500m offering, Revance proposes a $20m note sale, and Nestle invests another $200m in Aimmune.

Five out of six biopharmaceutical companies that have launched initial public offerings in the US this year closed higher on their first day of trading, with one – Black Diamond Therapeutics Inc. – more than doubling its stock price.

PPD Inc., the contract research organization that launched an IPO on 5 February at $27 per share to gross $1.62bn, also closed higher on its first day at $30 on 6 February. The drug developer that didn’t surpass its IPO price was I-Mab Biopharma Co. Ltd

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