Jounce’s Cinderella story now includes a $102M IPO chapter
Every up-and-coming biotech in the industry likes to dream about doing that one big, transformational deal that brings the spotlight and some rock star market appeal. And Jounce pulled one off last summer, getting a richly front-ended $2.6 billion partnership with Celgene that helped them stand out from the immuno-oncology crowd — not so easy to do these days.
On Thursday, Cambridge, MA-based Jounce Therapeutics completed the second chapter of its Cinderella story, breaking past the range and raising $102 million – well above its initial $75 million marker – from an IPO. The biotech sold 6.36 million shares at $16 a share and will trade as JNCE. The underwriters have an option on about a million more shares.
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