Bicycle rides to $200M payday, while lung disease biotech raises $80M

Bi­cy­cle Ther­a­peu­tics raised about $200 mil­lion through a pub­lic of­fer­ing at $21.25 per share a few days be­fore its new CFO is slat­ed to step in­to her post.

The biotech’s shares $BCYC rose near­ly 10% Thurs­day morn­ing af­ter the pric­ing, to just over $24 apiece.

The Cam­bridge, UK, and Boston biotech lined up two Big Phar­ma part­ner­ships this year for about $95 mil­lion up­front. Its al­liances with Bay­er and No­var­tis re­volve around tar­get­ed ra­dio­ther­a­pies. — Kyle LaHu­cik

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