Nkarta’s $252M IPO among biggest preclinical listings ever

Nkarta had already beaten expectations by pricing its upsized IPO at $18, but its triple-digit aftermarket gains provided further evidence that the powerful appetite for new biotech listings extends to preclinical companies. The company more than doubled in value during Friday's session, finishing the day up $29.90 (166%) to $47.90 and attaining a market cap of about $1.5 billion.

Once considered exceptionally risky, IPOs by preclinical biotechs are now becoming commonplace. At least