Onyx Therapeutics-backed autoimmune drug developer Kezar Life Sciences has closed its initial public offering at $86.3m.
US-based autoimmune disease drug developer Kezar Life Sciences closed an $86.3m initial public offering on the Nasdaq Global Select Market yesterday, providing an exit to biopharmaceutical company Onyx Therapeutics.
Kezar issued 5 million shares priced at $15 on its Thursday, securing $75m, before underwriters exercised their option to purchase an additional 750,000 shares. It is trading at $17.34 at time of publication, with a market cap of $314m.
Founded in 2015, Kezar is working on therapies for autoimmune disorders…
