Allogene IPO shares rally in the midst of a market storm; The flip side? Hoth files for $13M IPO
→ The market overall may be in turmoil, but why should that bother the record-setting biotech IPO from Arie Belldegrun and David Chang. Allogene stock $ALLO charged up on its debut Thursday and was still rising on Friday, shooting past the $27 mark after starting off at $18 a share. Allogene raised a record $324 million on its pricing, a figure that will likely grow as the underwriters pick up their options. The biotech is focused on winning the race to the first off-the-shelf CAR-T, with two big clinical programs slated to begin next year.
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