The clinical-stage biopharmaceutical company opened at $21 on August 5 after raising about $332.4 million in a further upsized offering that included the underwriters' option.
Attovia Therapeutics began trading on the Nasdaq Global Market on August 5 after pricing an upsized initial public offering at $17.00 per share. The clinical-stage biopharmaceutical company ultimately sold 19.55 million shares, including the underwriters' option, raising approximately $332.40 million. The stock opened at $21.00, up 23.5% from the IPO price. Earlier filings showed Attovia had initially planned to sell 12.5 million shares before increasing the deal size ahead of pricing. The company was spun off from Alamar Biosciences in 2023 and is developing next-generation biologic therapies for immune-mediated diseases using its ATTOBODY biologics platform, which it exclusively licenses from Alamar. Attovia has nominated three product candidates, including ATTO-1310, which has completed dosing in a Phase 1 clinical trial, ATTO-2306, which is expected to enter the clinic in the first half of next year, and ATTO-1091. As of March 31, Attovia had raised a cumulative $255.8 million from investors including entities affiliated with Goldman Sachs, Deep Track Capital, Frazier Life Sciences, venBio and Qiming Venture Partners. Morgan Stanley, Leerink Partners, Citigroup and RBC Capital Markets led the IPO, which adds to a strong run for biotech new issues this year.