BioCentury
ARTICLE | Financial News

LogicBio marks week’s third IPO to miss price target

October 19, 2018 7:25 PM UTC

LogicBio Therapeutics Inc. (NASDAQ:LOGC) priced its IPO below its proposed range late Thursday, joining two other biotechs that missed their target price this week. But shares of the genome editing company jumped $1.90 (19%) to $11.90 on Friday, the stock’s first day of trading.

LogicBio raised $70 million through the sale of 7 million shares at $10, valuing the company at $219.4 million. The company had hoped to sell 5.8 million shares at $12-$14. At the $13 midpoint, LogicBio would have raised $75 million for a valuation of $269.2 million. Underwriters comprise Jefferies, Barclays, William Blair and Chardan. ...