Structure Therapeutics IPO prices at top of range with larger number of shares added in a sign of healthy investor interest
Structure Therapeutics Inc. (GPCR) priced 10.74 million American depositary shares at $15 each to raise $161 million in its initial public offering with joint book-running managers Jefferies, SVB Securities, Guggenheim Securities, and BMO Capital Markets. The IPO from the California-based biopharmaceutical company that's developing oral therapeutics priced at the top end of its estimated price range of $13 to $15 a share. In a sign of healthy demand for its stock, Structure Therapeutics also increased the size of the offering to 10.74 million shares from 8.95 million shares. The company is developing GSBR-1290 as an oral small molecule product candidate for the treatment of type-2 diabetes mellitus, or T2DM, and obesity.
(END) Dow Jones Newswires
February 03, 2023 07:59 ET (12:59 GMT)
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