Te­va spin­out de­lays NASH IPO while Galera prices be­low range

A NASH-fo­cused spin­off of Te­va Phar­ma­ceu­ti­cals de­layed its IPO and Galera priced be­low its $14-$16 range as the pub­lic wa­ters grow murki­er.

Tout­ing an FGF21 ana­log cleaved off Te­va’s pipeline, 89bio would have gone from Se­ries A to Wall Street in less than a year had they com­plet­ed the IPO they an­nounced last month. Now, they’re be­ing held up over an “is­sue” with the SEC and the com­pa­ny’s au­di­tors said it could put the com­pa­ny in jeop­ardy.

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