The AstraZeneca cancer drug spinoff floated above its range in an upsized initial public offering and now has a market cap topping $2bn.
Switzerland-based oncology therapy developer ADC Therapeutics went public on Friday having raised almost $233m in an initial public offering, nine years after it was spun off from pharmaceutical firm AstraZeneca.
The company issued more than 12.2 million shares on the New York Stock Exchange, upsized from nearly 10.3 million. They were priced at $19.00 each, above the $16 to $18 range it had set earlier in the week.
Spun off from AstraZeneca subsidiary Spirogen, ADC is developing antibody drug conjugates…
