Gracell looks to NASDAQ IPO to place it among CAR T leaders

Gracell has followed fellow CAR T companies Legend, Allogene and bluebird onto NASDAQ with an oversubscribed IPO that the Suzhou company hopes will help put it on the map as a global player in the space.

In the year’s second NASDAQ IPO, Gracell Biotechnologies Inc. (NASDAQ:GRCL) raised $209 million via the sale of 11 million ADSs at $19 for a postmoney valuation of more than $1.2 billion. The company ended its first day of trading with a market cap of more than $1.6 billion after its stock rose 32% to $25.06...