Harith Rajagopalan, Fractyl Health CEO

Fractyl has the GUTS: Obe­si­ty and di­a­betes biotech charts $99M IPO

Fractyl Health is at­tempt­ing to ride the waves cre­at­ed by last week’s suc­cess­ful biotech IPOs for can­cer drug­mak­ers CG On­col­o­gy and Ar­riVent Bio­phar­ma.

The car­diometa­bol­ic biotech said Mon­day morn­ing it ex­pects about $99 mil­lion in net pro­ceeds from its Nas­daq de­but, like­ly to oc­cur lat­er this week. That haul would come if the Mass­a­chu­setts biotech prices at the mid­point of a pro­posed $14 to $16 range by sell­ing 7.33 mil­lion shares as $GUTS.

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