ADC upsizes IPO offering in search of a $175M-plus haul; Novo presents encouraging GLP-1 data from obesity study
→ Swiss biotech ADC Therapeutics is upsizing its IPO offering by about 3 million shares. The latest update includes new plans to sell 10.3 million shares at $16 to $18 a pop. That could take the cash harvest to around $175 million, depending on the final price. Biotechs have continued to line up on Wall Street for IPOs despite the pandemic, which has severely disrupted a variety of industries. Biopharma R&D seems relatively well-positioned to push ahead.
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