BeiGene, Editas rise after IPOs

Cancer play BeiGene Ltd. (NASDAQ:BGNE) and gene editing company Editas Medicine Inc. (NASDAQ:EDIT) each posted double-digit gains in their first day of trading on Wednesday after pricing IPOs late Tuesday.

BeiGene gained $4.32 (18%) to $28.32 after raising $158.4 million through the sale of 6.6 million ADSs at $24, a bumped-up number of shares at the high end of its proposed range. The price valued BeiGene, which has multiple cancer programs in Phase I, at $757 million. Goldman Sachs, Morgan Stanley, Cowen and Baird are underwriters (see BioCentury Extra, Jan. 20). ...