Con­tineum prices $110M IPO as IPF and neu­ro drugs ad­vance

An­oth­er San Diego biotech will go pub­lic Fri­day morn­ing, with Con­tineum Ther­a­peu­tics mak­ing its Nas­daq de­but to fund its Phase 2 neu­ro drug and ear­ly-stage work in fi­bro­sis and oth­er ar­eas.

Con­tineum $CT­NM raised $110 mil­lion in its of­fer­ing. The start­up priced at the low end of the $16 to $18 range it pro­posed on Mon­day and sold few­er shares than orig­i­nal­ly planned, at 6.87 mil­lion ver­sus 8.8 mil­lion. Its share price was down about 10% short­ly af­ter it start­ed trad­ing.

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