IPOs

Moderna skirts the reefs of disaster and sails into Wall Street with a $604M IPO bounty — but shares slide

/>

by — on
Updated:

Moderna just pulled off the biggest biotech IPO in the industry’s history, selling an upsized 26.2 million shares at $23 each — the mid-point on its range — and setting the bar for the next big thing at $604 million.

The offering — a boost of 20% in the number of shares sold — sets Moderna's market cap tonight at about $7.5 billion. And with a long list of underwriters, the greenshoe has yet to drop.

Now you can expect all eyes to turn to the trading tomorrow, to see if the biotech unicorn can survive a turbulent market and watch its shares trade higher. The betting — both ways — will be huge.

In order to read this article, you must be an Endpoints News subscriber. (It's free to subscribe.)

← Go back

We produce two daily email newsletters designed to give you a complete picture of what's important in biopharma. It's free to subscribe and never any spam. Join 37,400+ biopharma executives who read Endpoints News every day.

Access is subject to the terms in our Privacy Policy.

The best place to read Endpoints News? In your inbox.

Comprehensive daily news report for those who discover, develop, and market drugs. Join 37,400+ biopharma pros who read Endpoints News by email every day.

Free Subscription
Biotech Investment Analyst
SV Health Investors Boston, MA
Director, Program Management
Contrafect Corporation New York, NY
Director, Translational Sciences
Cadent Therapeutics Cambridge, MA
Visit Endpoints Careers ->