AlloVir rides IPO boom on first mar­ket day, soars af­ter bag­ging $276 mil­lion

Mass­a­chu­setts-based AlloVir hit Wall Street Thurs­day, join­ing the ranks of drug mak­ers to strike big in the 2020 IPO boom.

The biotech’s 16.3 mil­lion shares priced at $17 each — the mid­point of a $16 to $18 range — earn­ing $276 mil­lion. AlloVir, which sur­vived on most­ly grant mon­ey and was known as Vira­Cyte un­til last year, ini­tial­ly reg­is­tered for a $100 mil­lion IPO on Ju­ly 6. But in the foot­steps of oth­er phar­mas go­ing pub­lic for the first time this year, it up­sized by 1.5 mil­lion shares.

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