Sept. 18 Financial Quick Takes: IGM gains in first trading day; plus a follow-on roundup, BenevolentAI, UCSF’s InVent Fund and Versantis

First-day pop for IGM on NASDAQ
Oncology antibody company IGM Biosciences Inc. (NASDAQ:IGMS) gained $8.30 (52%) to $24.30 in its first day of trading after raising $175 million in its IPO. IGM sold 10.9 million shares at $16, the midpoint of its proposed range; it had boosted the number of shares in an amended prospectus this week. The offering valued IGM at $462.3 million; with Wednesday’s gains, the company finished with a market cap of about $700 million.

Acadia, Translate Bio and PTC price follow-ons
A trio of companies priced follow-ons on NASDAQ late Tuesday, raising a total of $460 million. Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) raised $250 million via the sale of 6.3 million shares at $40, a 6% discount to its Tuesday close. Shares in the CNS drug developer climbed 63% on Sept. 9 after it said data from a Phase III trial showed Nuplazid pimavanserin led to a significant benefit in dementia-related psychosis (see “Readout Could Lead to Label Expansion for Nuplazid“)...