The Celgene and GV-backed small molecule drug developer floated at the bottom of its range, raising less than half the target it set last week.
Rapt Therapeutics, a US-based cancer and atopic dermatitis therapy developer backed by internet technology conglomerate Alphabet and pharmaceutical firm Celgene, raised $36m yesterday in a scaled back initial public offering.
The IPO consisted of 3 million shares issued on the Nasdaq Global Market at a price of $12.00 each, at the bottom of the IPO’s $12 to $14 range. It initially filed for an $86.3m offering in July this year and re-filed last week with a $75m target.
…
