Gene ther­a­py de­vel­op­er Or­chard prices IPO at $14 to raise $200M

UK gene ther­a­py de­vel­op­er Or­chard Ther­a­peu­tics $OR­TX priced its ini­tial pub­lic of­fer­ing at $14 (ADS) per share, and is of­fer­ing about 14.3 mil­lion shares, it said on Tues­day. Shares of the Lon­don-based start­up, which ac­quired the rights to GSK’s $GSK “bub­ble boy” dis­ease drug Strimvelis ear­li­er this year, are ex­pect­ed to com­mence trad­ing on the Nas­daq on Wednes­day. The of­fer­ing comes at a time when the rate of bio­phar­ma IPOs has hit a fever­ish pace,with more such IPOs in the first half of this year than all of 2017.

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