The GSK-backed small molecule drug developer floated at the top of its range to raise just over $106m.
Principia Biopharma, a US-based immunology and oncology therapy developer that counts pharmaceutical company GlaxoSmithKline (GSK) as an investor, has raised just over $106m in its initial public offering.
The IPO consisted of 6.25 million shares issued on the Nasdaq Global Select Market priced at $17 each, at the top of the offering’s $15 to $17 range. The company’s stock opened at $25.66 on its first day of trading on Friday and closed at $32.65.
Principia is working on oral…
