US-based pharmaceutical company Seres Therapeutics closed its initial public offering at $153.8m yesterday after the underwriters fully exercised the option to buy additional shares.
Seres, which counts food and nutritional product manufacturer Nestlé and healthcare research company Mayo Clinic among its backers, initially raised $134m when it issued 7.4 million shares priced at $18 each on Friday last week.
The company’s stock skyrocketed on its debut, and it finished its first day of trading at $51.40.
Although it…
