Vigil Neuroscience stumbles after IPO prices below range

Vigil Neuroscience

07/01/2022 17:49

** Vigil Neuroscience  VIGL.O  falls on debut after IPO
misses expectations
    ** VIGL opens at $12.00 vs $14 IPO price, trades as low as
$10.85 on Fri
    ** Clinical-stage Alzheimer's disease treatment firm sold 7
mln shares $1 below the $15-$17 range, for $98 mln raise
 urn:newsml:reuters.com:*:nGNX22TmG8
    ** Vigil valued at roughly $400 mln at the IPO price, based
on shares outstanding per the prospectus filing
    ** Morgan Stanley, Jefferies, Stifel and Guggenheim jt
bookrunners for the IPO
    ** Offering comes as biotech sector starts 2022 on the back
foot. Nasdaq Biotech index  .NBI  and SPDR S&P Biotech ETF
 XBI.P  already down 6% and 7%, respectively, this week/year
 urn:newsml:reuters.com:*:nL1N2TK18C

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))