Relay reaps $400M IPO windfall after drawing the curtain on motion-based drug design pipeline
A red-hot venture market back in 2018 propelled Relay Therapeutics to a whopping $400 million crossover round. And now, the biotech is riding on a red-hot IPO market to a public debut that brought in the same exact amount.
The $400 million raise breaks down to 20 million shares sold at $20 each — above even the amended proposed range of $16 to $18.
It’s also double what Relay had penciled in with the initial S-1 filing, in yet another illustration that those figures are often nothing more than a placeholder these days.
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