Rattler Midstream LP (NASDAQ:RTLR) raised $665 million after pricing at $17.50, the midpoint of its expected range. The oil and gas services company opened on the Nasdaq at $18 and ended the session with a surge. A subsidiary of Diamondback Energy Inc (NASDAQ:FANG), Midland, Texas-based Rattler provides its parent company with midstream oil services including fresh water sourcing and transportation and saltwater gathering and disposal in the Permian basin.
Shares grew nearly 10% to close at $19.24.
Bicycle Therapeutics (NASDAQ:BCYC) raised $61 million after pricing at $14, the low end of its range, and debuted on the Nasdaq at $12.13. The UK clinical-stage biopharmaceutical company is developing cancer treatments using bicyclic peptides, which have a molecular structure that resembles a pair of wheels.
The stock struggled without its training wheels, dropping 14% to $12.
Ideaya Biosciences Inc (NASDAQ:IDYA) cooled off over time after a fast start to its first day of trading. The cancer biotechnology company raised $50 million and priced at $10, $3 below the low end of its range, but opened on the Nasdaq at $14.63. Shares got as high as $16.35 before dropping back down. The San Francisco-based company is focused on developing molecular diagnostic tools and targeted oncological treatments. It obtained a license from Novartis AG (NYSE:NVS) for IDE196, a protein inhibitor for genetically-defined cancers in patients with a specific gene mutation.
The stock ended the session nearly 12% higher at $11.19.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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