Roche and Novo-backed small molecule therapy developer Aligos Therapeutics has floated in an initial public offering priced in the middle of its range.
US-headquartered small molecule drug developer Aligos Therapeutics went public on Friday in a $150m initial public offering representing an exit for pharmaceutical firms Roche and Novo.
The company priced 10 million shares in the middle of the IPO’s $14 to $16 range. Its shares opened at $17.40 on the Nasdaq Global Select Market and closed at $14.85, valuing it at about $550m.
Aligos will direct up to $40m of the IPO proceeds and its cash on hand into a…
