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Artiva Biotherapeutics (ARTV) Climb ~25% The cell remedy developer traded publicly for the primary time on Friday at a reduction to its preliminary public providing worth.
After IPOing at $12.00 per share, ARTV shares opened at $16.00 at roughly 12.55 pm ET, indicating a achieve of roughly 25% from the general public providing worth.
Nonetheless, the inventory subsequently moved decrease, reaching $13.89 at roughly 1.05 pm ET, solely about 16% above the IPO worth.
The San Diego, Calif.-based biotech has partnered with German biotech Affimed (AFMD) to develop a drug mixture involving its lead asset, AlloNK, an NK cell remedy previously generally known as AB-101.
A Section 1/1b trial of AlloNK in lupus nephritis is presently underway, with knowledge anticipated within the first half of 2025.
Earlier within the day, Artiva (ARTV) priced its expanded public providing, promoting roughly 13.9 million shares of frequent inventory to lift gross proceeds of roughly $167 million.
The underwriters have a 30-day choice to buy as much as roughly 2.1 million extra shares. The general public providing of Artiva (ARTV) is anticipated to shut on July 22, 2024.
