IPO mar­ket warms with Spero, Al­lena head­ing to Wall Street

Two Boston biotechs are div­ing in to a frothy IPO mar­ket this morn­ing as they head­ed to the Nas­daq to raise a com­bined $152 mil­lion.

An­tibi­otics com­pa­ny Spero Ther­a­peu­tics brought in $77 mil­lion by sell­ing 5.5 mil­lion shares at $14 each. The com­pa­ny orig­i­nal­ly hoped to raise $92 mil­lion in the of­fer­ing, ac­cord­ing to a state­ment filed with the SEC in late Oc­to­ber. Spero’s IPO was helped along with sup­port from in­sid­ers, with Spero back­ers com­mit­ting to buy 39% of its IPO ($30 mil­lion) be­fore it went live.

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