Odyssey Therapeutics shares jump 11% in Nasdaq debut
Updated
Updated · Bloomberg · May 8
Odyssey Therapeutics shares jump 11% in Nasdaq debut
12 articles · Updated · Bloomberg · May 8
The Boston biopharmaceutical company opened at $20 in New York on Friday after raising $304 million in an upsized US IPO and private placement.
The stock began trading above its $18 offer price after Odyssey sold 15.5 million shares, with the deal priced at the top end of expectations.
People familiar with the matter had said the offering was significantly oversubscribed, marking a strong market debut for the clinical-stage drug developer trading under ticker ODTX.
With its IPO cash, can Odyssey's lead drug conquer the high-failure stage of clinical trials?
Is this IPO a sign of a lasting biotech market recovery or just a fleeting bright spot?