Mirum Pharmaceuticals has raised $75m in its initial public offering that had an initial target of $86.3m and provided exits to Novo and Shire.
Mirum Pharmaceuticals, a US-based liver disease therapy developer backed by pharmaceutical firms Shire and Novo, issued 5 million shares priced at $15 on Wednesday to raise $75m in its initial public offering.
The company began trading on the Nasdaq Global Market yesterday and saw its shares drop as low as $12.72 before recovering slightly to close at $13.21, giving Mirum a market cap of $304m. Mirum had hoped to raise as much as $86. 3m in the IPO.
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Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
