Nvidia-backed Iambic Therapeutics tumbles below IPO price
BUZZ-Nvidia-backed Iambic Therapeutics tumbles below IPO price ** Shares of Iambic Therapeutics IAM.O, drug developer backed by AI giant Nvidia NVDA.O, tumble as much as 41% to $14.10 in their third session of trading on Mon
** IAM opened at $16.15 on Thurs after $150 mln IPO priced at $16, midpoint of the marketed range
** Stock finished up ~26% on Fri at $23.81 after rising to as high as $25
** Biotech IPOs have continued to get done even as market volatility and surging bond yields combine to dampen investor appetite for new listings
** Iambic is advancing a pipeline of drug candidates developed using its AI platform to treat solid tumors. It has partnerships with top pharma companies, including AbbVie ABBV.N and Takeda Pharmaceutical 4502.T
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Recent news on Takeda Pharmaceutical
See all newsTakeda launches sleep disorder pill in the US after DEA clearance removes final hurdle (updated)
Brief: Takeda's Orzeyful Available In U.S. By Prescription To Treat Narcolepsy Type 1 In Adults
Takeda launches sleep disorder pill in the US after DEA clearance removes final hurdle
Takeda Pharmaceutical Company Limited reports results for the quarter ended September 30 - Earnings Summary
Table: Takeda Pharmaceutical Company Limited -6-MTH group results (IFRS)