Fidelity-backed biopharmaceutical company Kura floated on Nasdaq yesterday and will use proceeds to fund clinical trials.
Kura Oncology, a US-based biopharmaceutical company focused on the treatment of tumours and backed by financial services conglomerate Fidelity Management and Research, floated on Nasdaq yesterday raising $50m.
The company issued 6.25 million shares priced at $8 each, having previously planned to sell 3.75 million shares at $16 for a total of $60m.
Share value dropped to $7.84 by closing time and remain there as of the time of writing.
Kura is developing therapies for solid tumours and blood cancers.…
