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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