AMERICAS

摘要

Early stage biotechs have become a hard sell in the US IPO market. ideaya biosciences raised US$50m of IPO funding to develop a drug it is licensing from Novartis. JP Morgan, Citigroup and Jefferies faced strong pushback and had to settle for a US$10 pricing on a 5m-share offering that was marketed at US$13-$15 and included US$30m of insider support. Aftermarket trading was unusual. Ideaya traded as high as US$16.90 early in Thursday's aftermarket, 69% above offer. That bid faded throughout the session to close at US$11.19 on volume of 1.7m shares, on a single-day VWAP of US$12.99.