Bambusa Therapeutics slides in debut after upsized $169 million US IPO
BBTX•Bambusa Therapeutics shares fell 12.5% in their Nasdaq debut after the company raised $168.9 million in an upsized IPO, selling about 10.6 million shares at $16 each.
1. IPO debut
Bambusa Therapeutics opened at $14.88 per share, below its $16 IPO price, and fell 12.5% in its Nasdaq debut. The Boston-based drug developer sold about 10.6 million shares within the marketed range of $15 to $17.
2. Investor considerations
IPOX Associate Lukas Muehlbauer said investors prefer proceeds to sufficiently fund the next clinical milestone and reduce the risk of another fundraising round before the company demonstrates progress. He added that pricing needs to reflect remaining clinical and regulatory risks.
