A biotech tests Wall Street's roiled waters and comes away with a $75M IPO haul
Imara didn’t have the prettiest pricing moment for its IPO this week, but it did make it out onto the market — braving a Wall Street storm that has raised a tempest for public companies.
The rare disease player raised $75 million after pricing its shares at $16, the low end of the range. That can’t compete with the upsized debuts that marked the beginning of the year, but it is a sign that investors haven’t abandoned all risk as they look for shelter in a bear market.
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