Adaptive doubles, BridgeBio surges amid biotech IPO parade

Atreca

27/06/2019 17:59

** Adaptive Biotechnologies Corp  ADPT.O  and BridgeBio
Pharma Inc  BBIO.O  surge, while Morphic Holding Inc  MORF.O 
also rises in debut on Thurs as the biotech IPO parade marches
on
    ** ADPT opens 95% above $20 IPO price. Stock recently up 96%
at $39.23
    ** Adaptive, which uses Microsoft  MSFT.O  AI on its blood
tests for cancer, offers 15 mln shares $1 above an already
upwardly revised range of $18-$19, raises $300 mln  urn:newsml:reuters.com:*:nGNX1FlY4n
    ** BBIO opens 80% above $17 IPO price. Stock last up 61% at
$27.31
    ** KKR  KKR.N -backed BridgeBio, an incubator of smaller
biotech firms, offers 20.5 mln shares $1 above range of $14-$16,
rakes in $348.5 mln  urn:newsml:reuters.com:*:nGNXh5rFx
    ** MORF opens 20% above $15 IPO price. Shares recently up
22% at $18.28
    ** Morphic, serious chronic disease specialist that has
collaborations with AbbVie  ABBV.N  and Johnson & Johnson's
 JNJ.N  Janssen, sells 6 mln shares at midpoint of $14-$16 range
for $90 mln raise  urn:newsml:reuters.com:*:nBw2sC19Na
    ** These successful deals come on heels of strong showing by
genetic disease co Stoke Therapeutics  STOK.O , which is up 50%
since its Jun 18 IPO  urn:newsml:reuters.com:*:nL2N23Q0OA and solid debuts last week by
Atreca Inc  BCEL.O   urn:newsml:reuters.com:*:nFWN23R0LF and Akero Therapeutics  AKRO.O 
 urn:newsml:reuters.com:*:nFWN23R0PB
    ** That leaves just Karuna Therapeutics  KRTX.O , which is
developing drugs to treat schizophrenia, on deck to price its
IPO after the close Thurs. KRTX looking to raise up to $74 mln
by selling 4.4 mln shares in range of $15-$17. Filing https://www.sec.gov/Archives/edgar/data/1771917/000119312519174168/d709743ds1a.htm

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