LYCA•Lycia Therapeutics shares opened at $28.55, up 27.5% from the $18 IPO price, after the company sold 17.6 million shares at the top of its marketed range in an upsized $317.5 million offering.
Lycia Therapeutics shares opened at $28.55 in their Nasdaq debut, 27.5% above the $18 IPO price. The South San Francisco-based drug developer sold 17.6 million shares at the top of its marketed range of $16 to $18, raising $317.5 million.
Founded by Nobel Prize winner Carolyn Bertozzi, Lycia is developing drugs to treat autoimmune, inflammatory and allergic diseases.
