Novo-Backed Hemab Soars 89% After Upsized $301.5 Million IPO (1)

Hemab Therapeutics Holdings Inc., a clinical-stage biotechnology company, surged 89% on Friday after raising $301.5 million in an upsized US initial public offering that priced at the top of a marketed range.

Shares of the firm, which counts Novo Nordisk Foundation as one of its biggest investors, closed at $34 each in New York, versus an IPO price of $18. The company sold 16.75 million shares on Thursday, after it had already increased the number of shares offered to 15 million from 11.8 million marketed at $16 to $18 each.

The trading gives the Cambridge, Massachusetts-based company a market ...