The Novo-backed musculoskeletal disease therapy developer floated in an upsized IPO before its share price almost doubled on its first day of trading.
Edgewise Therapeutics, a US-based musculoskeletal disease therapy developer backed by pharmaceutical firm Novo, went public on Friday in a $176m initial public offering on the Nasdaq Global Market.
The company increased the number of shares in the offering from 10 million to 11 million and priced them at the top of the IPO’s $14 to $16 range. That price almost doubled to $30.00 at close on Friday to give it a market capitalisation of nearly $1.43bn.
Founded in 2017,…
