CytomX cuts price, raises $80M in IPO

CytomX Therapeutics Inc. (NASDAQ:CTMX) gained $0.90 to $12.90 in its first day of trading Thursday after it raised $80 million through the sale of 6.7 million shares at $12 in an IPO underwritten by BofA Merrill Lynch; Jefferies; Cowen; and Oppenheimer. The price valued the company at $419.1 million.

CytomX filed in August to raise up to $100 million. Last week, it said it hoped to sell 6.7 million shares at $14-$16. At $15, it would have raised $100 million and been valued at $523.9 million. ...