Ju­lian Adams man­ages to com­plete his $50M IPO at Gami­da Cell — at a heavy cost

Ju­lian Adams has his $50 mil­lion IPO, but it cost plen­ty.

The Gami­da Cell CEO, who’s steer­ing his way through a late-stage study with a ther­a­py that nev­er quite man­aged to at­tract a sig­nif­i­cant amount of at­ten­tion, had to go out at $8, well short of the $13 to $15 range that was pro­ject­ed. Get­ting the $50 mil­lion took sell­ing a big­ger batch of 6.25 mil­lion shares. And that meant walk­ing away from their $300 mil­lion val­u­a­tion and ac­cept­ing a down­grade to $210 mil­lion.

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