Seaport Therapeutics raises $255 million in upsized US IPO
Updated
Updated · Bloomberg · Apr 30
Seaport Therapeutics raises $255 million in upsized US IPO
11 articles · Updated · Bloomberg · Apr 30
The clinical-stage biotech sold 14.6 million shares at $18 each, the top of its marketed range, after initially offering 11.8 million shares at $16 to $18.
The deal gives fresh funding to a company developing antidepressant and anxiety treatments in neuro-psychiatry.
The pricing and increased share sale suggest strong investor demand for Seaport's US market debut despite the offering details not yet being public.
With biotech IPOs booming, can Seaport's novel anxiety drug outmaneuver a new wave of well-funded competitors?
Is Seaport's IPO success the start of a new era for neuroscience investment or just a temporary market bubble?