Another RA-backed biotech hits Nasdaq as public market stirs again after a bruising first quarter
California’s AN2 Therapeutics has been on a roll recently.
The lung disease biotech raised $80 million in a Series B back in January, announcing it in the company’s first press release since its series A round in 2019. At the time, big backers included RA Capital Management, a VC firm that’s shown a penchant for helping biotechs make quick jumps to the public market.
RA’s aggressiveness came to a head Friday, when the company announced it will be following through and making its Nasdaq debut after announcing IPO plans earlier this month. The biotech said in its statement that it will be offering 4.6 million shares at $15 a share under the ticker $ANTX, raising $69 million in the process. The price point came in at the middle of AN2’s expected range after it set terms of $14 to $16 per share last week.
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