Principia jumps after $106.3M IPO

Principia Biopharma Inc. (NASDAQ:PRNB) leaped $15.65 (92%) to $32.65 on Sept. 14, its first day of trading, after raising $106.3 million late Sept. 13 through the sale of 6.3 million shares at $17 in an IPO underwritten by BofA Merrill Lynch, Leerink, Wells Fargo Securities and Baird. The offering values the company at $386.4 million. The company priced the offering at the top of its proposed range of $15-$17.

The Sept. 14 move reflects a gain in market cap of $355.7 million...