ArriVent Is Second Positive IPO Of 2024 After CG Oncology’s Debut

Cancer Drug Developer Closes Up 11.1%

 
• By Mandy Jackson
  
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ArriVent launched the second biopharma initial public offering of 2024, closing above its IPO price on its first day and grossing $175m – and keeping the financial market mood optimistic.

Skyscrapers Cityscape Downtown View, Boston Skyline Buildings. NIght time. IPO hologram.
The positive performance of the year's first two IPOs may drive future offerings • Source: Shutterstock

ArriVent Biopharma, Inc. launched the second biopharmaceutical company initial public offering of 2024, a day after CG Oncology, Inc. became the first drug developer to go public in the US this year. While ArriVent did not almost double its valuation in its first day of trading like its predecessor, the company’s IPO was well received, with its share price closing above the offering price in its first day of trading – another positive sign that investors are feeling confident about the industry again.

Key Takeaways

  • ArriVent launched an upsized offering in the middle of a proposed price range to gross $175m in the second biopharma IPO in the US for 2024.

Newtown Square, PA-based ArriVent sold 9.72 million shares at $18 each to gross $175m late on 25 January, which was...

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