BUZZ - Iambic Therapeutics, backed by Nvidia, sees its stock price fall below the IPO issue price
路透社2026/10/19 14:56October 19 - ** Shares of drug development company Iambic Therapeutics (IAM.O), backed by artificial intelligence giant Nvidia (NVDA.O), plunged as much as 41% to $14.10 on Monday in their third trading day
** IAM opened at $16.15 on Thursday after the company (link) completed its $150 million initial public offering (IPO) at a price of $16 per share, which was at the midpoint of its price range (link)
** The shares closed up about 26% on Friday at $23.81, after hitting an intraday high of $25
** Despite market volatility and a surge in bond yields dampening investor appetite for new issues (link), biotech IPOs (link) are still continuing
** Iambic is advancing its pipeline of experimental drugs for treating solid tumors, developed using its artificial intelligence platform. The company has established partnerships with leading pharmaceutical companies including AbbVie (ABBV.N) and Takeda Pharmaceutical (4502.T)
(To assist non-English speakers, Reuters offers automated translations of its reports in several other languages. Due to possible errors or the lack of necessary context in automated translations, Reuters does not guarantee the accuracy of automated translated texts, which are provided solely for reader convenience. Reuters accepts no responsibility for any damage or loss caused by the use of automated translation features.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cryptocurrencies Turn Higher as Equities Change Course -- Market Talk
U.S. homebuilder confidence unexpectedly falls to a 14-year low, hit by both high interest rates and cost pressures
The Housing Market Index, jointly released by the National Association of Home Builders (NAHB) and Wells Fargo, fell by 3 points this month to 29, the lowest level since June 2012 and below the market expectation of 31. The sales sub-index dropped to 33, also a 14-year low; the index for expected sales over the next six months declined to its weakest level since November 2022; the index measuring potential buyer traffic fell to its lowest point since the onset of the COVID-19 pandemic.
Crypto prices
More
