Turn­ing phar­ma castoffs in­to an in­stant for­tune, Vivek Ra­maswamy’s My­ovant bags a $218M IPO

In a flash­back to the bub­bly IPO boom of 2014, My­ovant Sci­ences has rung up $218 mil­lion in an overnight wind­fall af­ter pric­ing 14.5 mil­lion shares at $15 a pop — the high end of the range. Shares will start trad­ing to­day as the mar­ket weighs in on Vivek Ra­maswamy’s lat­est overnight Wall Street coup.

The for­mer hedge fund man­ag­er turned an Alzheimer’s re­ject at Glax­o­SmithK­line in­to a $315 mil­lion IPO for Ax­o­vant $AX­ON last year, steer­ing the failed ther­a­py straight in­to a Phase III paid for by his in­vestor fans.

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