Alzheimer’s play­er AC Im­mune taps IPO for $58M raise, sees shares soar

Swiss biotech AC Im­mune fol­lowed through on its IPO $ACIU to­day, pric­ing at $11 a share . That’s the low end of the range, but the com­pa­ny bumped the net to $58 mil­lion by adding 1.5 mil­lion shares, in­creas­ing the to­tal to 6 mil­lion.

The big pay­off came af­ter the open on Fri­day, though, as the biotech’s shares rock­et­ed up 42% on its de­but.

AC Im­mune has been a promi­nent play­er in Alzheimer’s, one of the tough­est games in biotech. Backed in part by bil­lion­aire Di­et­mar Hopp, the biotech is part­nered with Roche on crenezum­ab, now ad­vanced in­to a piv­otal study af­ter mixed re­sults in an ear­li­er study.

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