Sept. 12 Financial Quick Takes: IPOs from 10x, SpringWorks; plus Shanghai Henlius, Fate and more
Big gain for 10x after upsized IPO prices above range
Single-cell analytics company 10x Genomics Inc. (NASDAQ:TXG) gained $13.75 (35%) to $52.75 in its first day of trading after raising $390 million in its IPO. 10x sold 10 million shares at $39, bumped up from the 9 million it had expected to sell earlier this week at an already upsized range of $36-$38. The offering price valued 10x at $3.7 billion; with Thursday's gains, it ended the day with a market cap about $5 billion.
SpringWorks raises $162M in IPO
SpringWorks Therapeutics Inc. (NASDAQ:SWTX) raised $162 million late Thursday through the sale of 9 million shares at $18 in its NASDAQ IPO. The deal, upsized from 7.3 million shares, valued the company at $754 million. SpringWorks is developing rare disease and cancer programs spun out of Pfizer Inc. (NYSE:PFE) with lead candidate nirogacestat in Phase III testing for desmoid tumors...