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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