PureTech Health-backed neuropsychiatric drug developer Karuna Therapeutics raised $89.2m in an upsized offering that followed $123m in venture capital.
Karuna Therapeutics, a US-based, neuropsychiatric-focused spinoff from pharmaceutical company PureTech Health, has gone public in an upsized $89.2m initial public offering on the Nasdaq Global Market.
The offering consisted of approximately 5.58 million shares priced at $16.00 each, in the middle of the IPO’s range. Karuna increased the number of shares in the offering from almost 4.4 million.
Unnamed existing investors expressed interest in buying $30m of shares, though it is unclear if they did so. The company’s shares…
