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ARTICLE | Financial News

Turning Point gains after pricing upsized $166.5M IPO

April 17, 2019 3:54 PM UTC

Turning Point shares jumped $10.90 (61%) to $28.90 in their first day of trading Wednesday after the company raised $166.5 million in an upsized IPO priced late Tuesday.

Turning Point Therapeutics Inc. (NASDAQ:TPTX) sold 9.3 million shares at $18, at the high end of its proposed range of $16-$18. The company had proposed to sell 7.4 million shares on April 8, which it then increased to 8.8 million shares on Tuesday, hours before its IPO priced. The price values Turning Point at $533.8 million...