Alexandria Real Estate Equities-backed Applied Therapeutics has gone public despite having to drastically cut its expectations for the offering.

Applied Therapeutics, a US-based molecular drug developer backed by life sciences real estate trust Alexandria Real Estate Equities, has gone public, issuing 4 million shares priced at $10 each.

The $40m in proceeds are less than half of the $86.3m the company had initially targeted when it filed for an initial public offering last month. It floated on the Nasdaq Global Market last week and its shares closed at $8.53 on Friday.

Founded in 2016, Applied Therapeutics is…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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