Muscle disease drug developer Avidity, which counts Eli Lilly, EMS, Takeda and ST Pharm as investors, went public in a significantly upized IPO.
Avidity Biosciences, a US-based muscle disease drug developer backed by pharmaceutical firms Eli Lilly, EMS, ST Pharm and Takeda, floated on the Nasdaq Global Market on Friday in a $259m initial public offering.
The offering came after a considerable hike in its size, Avidity having increased the number of shares from 10 million to 14.4 million before pricing them at $18.00 each, above the IPO’s $14 to $16 range. Its shares opened at $26.50 on Friday and closed at…
