The Takeda-backed gastrointestinal disease therapy developer has boosted its initial public offering to $209m after its shares rose 23% post-flotation.
Phathom Pharmaceuticals, a US-based company that has licensed a gastrointestinal disease medicine from pharmaceutical firm and investor Takeda, formally closed its initial public offering at $209m yesterday.
The company issued approximately 9.56 million shares on the Nasdaq Global Select Market on Friday priced at $19.00 each. Its shares closed at $23.59 on Monday, leading the underwriters to take up the over-allotment option and buy another 1.43 million shares.
Founded in 2018, Phathom has licensed the US, Canadian and European…
