ArriVent prices $175M IPO in back-to-back oncology biotech listings

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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