The Merck and Alphabet-backed immunological disease treatment developer floated its shares below its initial price range in an IPO in the US.
Vera Therapeutics, a US-based immunological disease treatment developer backed by internet technology group Alphabet and pharmaceutical firm Merck Group, floated in a $47.9m initial public offering on Friday.
The company issued just under 4.4 million shares on Nasdaq Global Market priced at $11 per share, below its $14 to $16 initial price range. Shares closed at $11.50 on the first day of trading.
The company had initially filed to raise $86.3m from the offering.
Vera is focused on…
