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Stock impact report

Septerna Shares Jump 42% After IPO Shows Biotech Still Hot [Yahoo! Finance]

Upstream Bio, Inc. (UPB) 
Company Research Source: Yahoo! Finance
Most Read from Bloomberg Robotaxis Are No Friend of Public Transportation Booming Cambridge Exposes England's Widening Wealth Gap Oman Sees an Urban Future Distinct From Dubai and Abu Dhabi Argentina Drug Trafficking Hotspot Sees Murders Plunge Climate Change Is Killing Buildings in Slow Motion The South San Francisco-based firm's shares traded at $25.50 each at 12:15 p.m. on Friday in New York, above the IPO price of $18 apiece. The company had increased the size of the stock sale twice and sold 16 million shares on Thursday at a price above an initially marketed range. The trading gives Septerna a market value of more than $1 billion, based on the outstanding shares listed in its filings. The company is focused on developing oral small molecule drugs with an initial focus on endocrinology, immunology and inflammation, and metabolic diseases, according to its website. The strong pricing and trading follows a spate of IPOs and follow-on offerings over the past two m Show less Read more
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