As biotech IPO pace quickens, ADC Therapeutics garners largest postmoney valuation of the year
Swiss cancer company’s debut is the latest sign of a robust market for fresh paper
Adding to a steady drip of biotechs testing U.S. public markets, ADC Therapeutics became the latest to climb on its trading debut after pricing an upsized IPO.
ADC Therapeutics S.A. (NYSE:ADCT) rose $10.65 (56%) to $29.65 Friday after raising $232.7 million through the sale of 12.2 million shares at $19. The pricing valued the Swiss company at