Fierce Biotech August 15, 2024
Actuate Therapeutics became the latest biotech to join the Nasdaq this week with a scaled-back IPO that brought in $22.4 million.
The Texas- and Ireland-based company had initially outlined plans in July for a $45.1 million offering but soon reduced this to closer to the $22 million mark. The biotech continued to make some minor amends before settling on its final offer of selling 2.8 million shares priced $8 apiece—the lower end of its anticipated range—it explained in a post-market release yesterday.
Underwriters also have a 30-day option to pick up a further 420,000 shares at the same price.
While most biotechs that have gone public in 2024 have seen their share price sink following their IPO, Actuate has avoided...
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