The Roche-backed antibody developer floated above its range and has seen its stock almost double in price.
Allakos, a US-based antibody developer that has received funding from pharmaceutical companies Roche and Novo, has raised approximately $128m in its initial public offering.
The company issued just over 7.1 million shares on the Nasdaq Global Select Market priced at $18.00 each, above the IPO’s $15 to $17 range. Its shares debuted at $27.80 on Thursday and closed at $35.05 the following day.
Allakos is developing a monoclonal antibody called AK002 to combat eosinophil and mast cell related diseases,…
