The immuno-oncology drug developer, which is backed by Celgene and GV, floated above its range and has since seen its share price rise 75%.
Armo Biosciences, a US-based immuno-oncology therapy developer that counts pharmaceutical company Celgene and internet technology group Alphabet as investors, has raised $128m in its initial public offering.
The IPO consisted of just over 7.5 million shares issued on the Nasdaq Global Select Market priced at $17.00 each, above the $14 to $16 range set by Armo. The amount of shares in the offering was also increased from approximately 6.7 million.
Founded in 2012, Armo is working on immuno-oncology treatments…
