The Eli Lilly-backed liver disease drug developer floated at the top of its range to raise almost $128m, following $207m of venture funding.
Terns Pharmaceuticals, a US-based liver disease therapeutics developer that counts pharmaceutical firm Eli Lilly as its largest investor, has secured approximately $128m in its initial public offering.
The offering consisted of 7.5 million shares issued on the Nasdaq Global Market priced at the top of its $15 to $17 range. The company floated on Friday last week and its shares closed at $19.79 last night to give the company a market capitalisation of $473m.
Founded in 2017, Terns is…
