The Eli Lilly, Pfizer and Sanofi-backed cancer therapy developer raised $150m despite reducing the number of shares in the IPO and floating beneath its range.
BioNTech, a Germany-based immuno-oncology therapy developer backed by pharmaceutical companies Pfizer, Eli Lilly and Sanofi, will go public on the Nasdaq Global Select Market today in a $150m initial public offering.
The company priced 10 million American Depositary Shares, each equating to one normal share, at $15.00 this morning, giving it a fully diluted valuation of $3.9bn. It had originally intended to issue 13.2 million ADSs priced between $18 and $20 per share before cutting the range to $15 to…
