Nvidia-backed Iambic Therapeutics tumbles below IPO price
IAM•Iambic Therapeutics shares fell as much as 41% to $14.10 in their third trading session, below the $16 IPO price. The shares had finished Friday up about 26% at $23.81.
1. Shares retreat after debut
Iambic opened at $16.15 on Thursday after its $150 million IPO was priced at $16, the midpoint of the marketed range. Shares rose as high as $25 on Friday before closing at $23.81. The drug developer is advancing AI-developed candidates for solid tumors and has partnerships with AbbVie and Takeda Pharmaceutical.
