ArriVent Biopharma will join the Nasdaq on Friday morning in a strong start to biotech’s first batch of initial public offerings this year.
The Pennsylvania drugmaker said Thursday night it would sell 9.72 million shares $AVBP at $18 apiece, the midpoint of the range it proposed earlier this week. The late-stage biotech will raise $175 million in its upsized offering.
The listing comes a day after the first biotech IPO of the year, in which Phase III bladder cancer drugmaker CG Oncology drew in $380 million.
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