Seaport Therapeutics stock pops 17% on Nasdaq debut after raising $255 million in upsized IPO
Seaport Therapeutics, a Boston-based biotech company, saw its stock rise 17% on its first day of trading on the Nasdaq. The company sold more shares than originally planned at $18 each, raising $255 million in an upsized initial public offering. This gave Seaport a market valuation of $1.1 billion.
Key facts
- Seaport Therapeutics is a Boston-based biotech company.
- Its stock rose 17% on Nasdaq debut.
- The company raised $255 million in an upsized IPO.
- Shares were priced at $18 each.
- More shares were sold than originally planned.
- Market value reached $1.1 billion.
- IPO was upsized.
- Trading debut was on Nasdaq.
Entities
Institutions
- Seaport Therapeutics
- Nasdaq
Locations
- Boston
- United States
Sources
- Quartz —