Biotech firm Vaxxinity soars in market debut

Vaxxinity

11/11/2021 17:51

** Biotechnology company's  VAXX.O  shares jump nearly 30%
above the IPO offer price in stock market debut
    ** Stock opened at $16.90/shr compared with the IPO price of
$13/shr
    ** Dallas, Texas-based VAXX sold 6 mln shares in a downsized
offering, raising $78 mln   urn:newsml:reuters.com:*:nGNX8KVp5G
    ** Co had earlier targeted to sell 6.7 mln shares, priced
between $14 and $16 each
    ** VAXX valued at over $2 bln in debut 
    ** Co says is in the process of developing and testing
vaccines to treat chronic diseases including Alzheimer's and
Parkinson's
    ** BofA Securities, Jefferies and Evercore ISI were the lead
underwriters for the offering

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