Data Bytes: oncology pair shines in NASDAQ debut as queue swells

Targeted cancer therapy developers Prelude and PMV each posted double-digit gains in their first trading day on NASDAQ Friday, while ophthalmic play Graybug had a more modest debut on the exchange.

PMV Pharmaceuticals Inc. (NASDAQ:PMVP), which is pursuing a tumor-agnostic strategy by targeting p53 mutations, more than doubled its value as it ended the day at at $37.51 for a valuation north of $1.6 billion after pricing at $18. It’s the latest preclinical company to list during a year when investors have shown appetite for earlier-stage biotechs (see “Big Money, But Not Yet Exponential Growth”)...