Maze Therapeutics valued at $690.4 million as shares rise marginally in market debut (updated)

Smithfield Foods

31/01/2025 17:38

(Adds details on IPO in paragraphs 2 & 3, background in paragraphs 3-6)
       Jan 31 (Reuters) - Shares of Maze Therapeutics  MAZE.O  rose nearly 1% in their Nasdaq
debut on Friday, valuing the kidney disease drug developer at $690.37 million.
    The company's shares opened at $16.12 apiece, compared with the IPO price of $16.
    San Francisco, California-based Maze upsized its IPO to sell 8.75 million shares within the
marketed range of $15 to $17 each to raise $140 million. The company had initially planned to
offer 7.8 million shares.
    The market reaction signals sustained investor appetite for IPOs, despite muted first-day
performances from some high-profile firms such as Venture Global  VG.N  and Smithfield Foods
 SFD.O  in the last few days.
    Maze's debut could be a positive signal for other biotech players looking to test investor
interest in 2025.
    Drug developers Aardvark Therapeutics, Aurion Biotech, Sionna Therapeutics and Odyssey
Therapeutics are among the IPO hopefuls that have filed their paperwork in recent weeks.

 (Reporting by Ateev Bhandari in Bengaluru; Editing by Alan Barona)
 ((Ateev.Bhandari@thomsonreuters.com))