Passage prices upsized IPO despite market headwinds

The ability of Passage Bio to price its IPO above expectations late Thursday signaled that even with a global pandemic roiling markets, a new biotech listing can still pique investors’ interest.

Gene therapy company Passage Bio Inc. (NASDAQ:PASG) is due to begin trading Friday after raising $216 million through the sale of 12 million shares at $18, the top of its range. In an amended prospectus issued Wednesday, the company had already upsized its proposed share count to 10 million from 7.4 million; it had maintained a proposed price range of $16-$18...