Harvard-linked Sana brought in nearly four times as much in proceeds as originally planned and saw shares surge 40% on the first day of trading.
Sana Biotechnology, a US-based stem cell medicines developer exploiting Harvard University research, priced shares above its range at $25 on Wednesday to raise almost $588m in an upsized initial public offering.
The company issued 23.5 million shares, up from a planned 15 million, and began trading on the Nasdaq Global Select Market under the symbol SANA yesterday. Its price range was set at $20 to $23 last week to raise up to $397m, already more than…
