Finance Watch: Acrivon Adjusts Expectations To Launch $99.4m IPO

Earnings Season Brings Strategic Shifts, Workforce Reductions

Public Company Edition: Acrivon launched the 20th biopharma IPO in the US for 2022. Also, Q3 updates reveal job cuts at Tricida, Harpoon, Neoleukin and more; APIM Therapeutics will reverse merge with Nordic Nanovector; plus other follow-on offerings, royalty deals and a sale-leaseback.

Finance Watch Public Company — • Source: Alamy

Acrivon Therapeutics, Inc. brought its initial public offering to the US market a week later than originally planned and at different terms than it proposed a week earlier, but the cancer drug developer was able to launch its IPO during a year when tough stock market conditions have made it difficult for many biopharmaceutical companies to go public.

Watertown, MA-based Acrivon priced 7.55 million shares at $12.50 each late on 14 November, grossing $99.4m from the IPO and...

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