ARTICLE | Finance
Relay’s IPO among the year’s largest for a biotech as others wait in wings
July 16, 2020 8:48 PM UTC
In a year when most new biotech listings have surpassed expectations, Relay’s upsized $400 million IPO is the second-largest yet for a therapeutics developer in 2020.
The clinical developer of precision oncology therapies posted a big aftermarket gain on Thursday, adding 75% after selling 20 million shares at $20, above their proposed range. The deal valued Relay at more than $1.7 billion; the company closed the day with a market cap topping $3 billion. ...