Medesis Pharma: Shares shoot up 75% above IPO price

Medesis Pharma SA

12/02/2021 12:35

** Shares in French biotechnology company Medesis Pharma
 ALMDP.PA  jumped at some point 75% above their IPO price in
their debut on Euronext Growth Paris
    ** The company raised 7.35 million euros in the offering,
which was priced at 6.76 euros and 7.4 times oversubscribed
    ** The stock soared 53% as at 1226 GMT, while 614,900 shares
changed hands
    ** Founded in 2003, Medesis Pharma intends to use the
proceeds from the IPO to speed up work on at least three phase
II clinical trials in 2021 on several neurodegenerative and
viral diseases, including COVID-19

 ((juliette.portala@thomsonreuters.com))