The number of biopharma initial public offerings in the US in 2024 grew to four with IPOs by Alto Neuroscience Inc. and Fractyl Health, showing that investors continue to be supportive of certain first-time offerings this year. However, the mixed performance of the two firm’s stocks showed that investor confidence remains shaky.
Alto grossed $128.6m from the sale of 8.04 million shares at $16 each on 1 February, upsized from the 6.7 million shares that the company anticipated selling in a 29 January US Securities and Exchange Commission (SEC) filing and at the top of a proposed $14 to $16 price range
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