Nvidia-backed Iambic Therapeutics jumps in debut after $150 million IPO
IAM•Iambic Therapeutics shares rose 19% to $19.08 in their Nasdaq debut after the drug developer raised $150 million in an IPO. The company sold 9.38 million shares at $16 apiece, within its marketed range of $15 to $17.
1. Shares rise in debut
Iambic Therapeutics shares opened at $16.15, compared with the $16 IPO price, and rose 19% to $19.08 in their Nasdaq debut. The San Diego-based company sold 9.38 million shares in the $150 million IPO.
2. AI drug development
Iambic is advancing drug candidates developed using its AI platform to treat solid tumors. The article described biotech as a bright spot in a choppy broader IPO market.
