Pfizer spinoff Springworks, which also counts GlaxoSmithKline as an investor, secured $162m in an initial public offering that followed $228m of funding.
US-based rare disease and cancer drug developer SpringWorks Therapeutics has priced its shares at $18 each to raise $162m in an initial public offering that provided exits to pharmaceutical firms Pfizer and GlaxoSmithKline.
The company issued 9 million shares on the Nasdaq Global Select Market at the top of the IPO’s $16 to $18 range. They opened at $24.50 and reached a peak of $26.44 before closing at $22.63 on its first day of trading on Friday, giving it…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
