The clinical-stage developer, focused on treatments for immune-mediated diseases, now anticipates net proceeds reaching approximately $265.1 million. Should underwriters exercise their option to purchase an additional 2.55 million shares, the total capital raised could climb to $305.4 million. This infusion of cash, combined with existing resources, provides the company with a financial runway extending into 2029.
In section Market Quotes
Attovia Therapeutics Upsizes IPO to $289 Million
San Carlos-based biopharmaceutical firm Attovia Therapeutics has moved to increase both the volume and pricing of its upcoming market debut, opting to offer 17 million shares at $17 each. This shift marks a significant expansion from the company's initial strategy of selling 12.5 million shares at a lower price range.
Attovia has applied to list its stock on the Nasdaq Global Market under the ticker symbol ATTO. Following the offering, the company expects to have nearly 45.6 million shares outstanding, positioning its market capitalization at approximately $775 million based on the final $17-a-share valuation.
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