Pfizer, Takeda and Alphabet-backed degenerative disease drug developer Cortexyme priced its initial public offering in the middle of its range to raise $75m.
Cortexyme, a US-based Alzheimer’s disease drug developer which counts internet and technology group Alphabet and pharmaceutical firms Pfizer and Takeda, floated yesterday in a $75m initial public offering.
The company issued 4.4 million shares on the Nasdaq Global Market priced at $17.00 each, in the middle of the IPO’s $16 to $18 range. Its shares popped to close at $32.89 on their first day of trading.
Cortexyme is developing therapeutics to treat degenerative diseases such as Alzheimer’s by focusing…
