Tricida gains, others dip after upsized IPOs
Among three well-funded biotechs that priced IPOs, Tricida Inc. (NASDAQ:TCDA) had by far the best first-day performance Thursday, posting a 37% gain, while Translate Bio Inc. (NASDAQ:TBIO) and Forty Seven Inc. (NASDAQ:FTSV) each lost ground.
All three had upsized the number of shares in their offerings. The trio raised a total of more than $450 million.
The offerings come amid a busy period for new listings, partly due to the constraints of a tight calendar window (see "Bountiful, Not Bubbly").