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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