Bridgebio Pharma Inc. opened trading up 80% after raising $348.5 million in its upsized, above-range initial public offering.
Shares of the biotechnology company rose as much as 84% and were up 61% to $27.30 at 11.52 in New York trading June 27, valuing Bridgebio at $3.27 billion.
Bridgebio sold 20.5 million shares June 26 for $17 each after marketing 20 million of them for $14 to $16. Earlier, the company had planned to sell only 15 million shares.
The company, based in Palo Alto, Calif., and with more than 15 development programs, focuses on developing medicines for genetic diseases.
Bridgebio ...
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