Schrödinger, Beam are latest to post gains after pricing larger-than-expected IPOs

A pair of biotechs posted double-digit gains Thursday after upsizing their offerings and pricing at or above expectations, suggesting a sustained investor appetite for new biotech listings.

Schrödinger Inc. (NASDAQ:SDGR) gained $11.64 (68%) to $28.64 Thursday after increasing its share count and pricing above its proposed range to raise $202 million. Beam Therapeutics Inc. (NASDAQ:BEAM) also sold more shares than it had forecast, even after raising expectations by upsizing its proposal in an amended prospectus this week. It priced at the top of its range to raise $180 million. In Thursday’s session, Beam climbed $1.75 (10%) to $18.75...