Alzheimer’s player AC Immune taps IPO for $58M raise, sees shares soar
Swiss biotech AC Immune followed through on its IPO $ACIU today, pricing at $11 a share . That’s the low end of the range, but the company bumped the net to $58 million by adding 1.5 million shares, increasing the total to 6 million.
The big payoff came after the open on Friday, though, as the biotech’s shares rocketed up 42% on its debut.
AC Immune has been a prominent player in Alzheimer’s, one of the toughest games in biotech. Backed in part by billionaire Dietmar Hopp, the biotech is partnered with Roche on crenezumab, now advanced into a pivotal study after mixed results in an earlier study.
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