Fierce Biotech January 30, 2023
If we’re looking for green shoots in 2023, then the trickle of IPOs in recent weeks is a good place to start. Mineralys Therapeutics announced a $100 million IPO earlier in the month, and now Structure Therapeutics has put the finishing touches to its own nine-figure Nasdaq offering.
The San Francisco and Shanghai-based biotech confirmed in an SEC filing today that it would be offering almost 9 million American depositary shares—representing close to 27 million ordinary shares—priced between $10 and $15 per ADS. Assuming the final price ends up in the middle of that range, the company is expecting a haul of $111.5 million, rising to $129 million if underwriters decide to buy up additional ADSs available.
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