Acelyrin shares have added about 30% after the late-stage clinical biopharma raised $540 million during an upsized initial public offering (IPO).
This was the fifth-largest US IPO by a traditional biopharma company in history, according to BioWorld.
The company’s shares debuted on the Nasdaq Global Select Market on May 5, 2023, under the ticker symbol “SLRN.”
On Monday, May 8, the company’s shares were up about 30.5% from their debut price of $18 at US$23.50.
Morgan Stanley (NYSE:MS), Jefferies, TD Cowen, and Piper Sandler are acting as joint book-running managers for the offering, which Acelyrin said is expected to close on May 9.
Acelyrin is focused on advancing its drug candidate izokibep for psoriatic arthritis and axial spondyloarthritis. It also plans to explore the drug in other indications.
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