The biotech IPO par­ty rocks on with $120M raise for I/O play­er Ar­cus Bio­sciences

Ar­cus Bio­sciences pro­vid­ed fresh ev­i­dence that the biotech IPO win­dow is open for busi­ness — par­tic­u­lar­ly if you have a claim to fu­ture im­muno-on­col­o­gy glo­ry. The biotech raised $120 mil­lion, sell­ing an up­sized pack­age of 8 mil­lion shares at $15 a pop.

That’s an­oth­er high-range of­fer­ing, which no doubt will en­cour­age more star­tups to jump in­to the IPO game this year, with the mon­ey spig­ot open wide for well con­nect­ed com­pa­nies. And the stock swift­ly added 21% Thurs­day in its first day of trad­ing, break­ing the $18 mark.

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