SoftBank-backed Neumora slumps in dull Nasdaq debut after $250 mln IPO

Neumora Therapeutics

15/09/2023 17:43

(Updates)
    ** ** Shares of SoftBank-backed Neumora Therapeutics
 NMRA.O  fall ~3% at the open in a muted Nasdaq debut; stock
last down ~1.4%  
        ** NMRA opens for trading at $16.50 apiece vs initial
public offering of $17, valuing the biopharma firm at $2.51 bln 
  
    ** Co sold 14.7 million shares priced at the mid-point of
its previously disclosed range to raise $250 mln in the IPO that
valued Neumora at $2.58 bln on Thursday
    ** NMRA starts trading a day after SoftBank-owned chip
designer Arm Holdings soared in its market debut to notch a
valuation of over $60 bln   
    ** A string of startups including grocery delivery service
Instacart and marketing firm Klaviyo on pace to list in the US
as market shows signs of thawing 
    ** "There's growing hope that the IPO market will now become
more buoyant next year. IPO activity is a strong indicator of
overall sentiment," says Sophie Lund-Yates, lead equity analyst
at Hargreaves Lansdown
    ** J.P. Morgan, BofA Securities, Stifel, Guggenheim
Securities, RBC Capital Markets, and William Blair are acting as
joint book-running managers for NMRA's offering

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))