Agios soars after raising $106M in IPO

Agios Pharmaceuticals Inc. (NASDAQ:AGIO) jumped $13.28 (74%) to $31.28 in its first day of trading on Wednesday after raising $106 million in an IPO through the sale of a bumped-up number of shares above its proposed price range. Agios sold 5.9 million shares at $18, which values the cancer company at $529.5 million, not including shares that Agios' partner Celgene Corp. (NASDAQ:CELG) is purchasing in a concurrent private placement. Earlier this month, Agios said it planned to sell 5 million shares at $14-$16. With Wednesday's move, the company is now valued at $920.2 million. JPMorgan; Goldman; Cowen; and Leerink are underwriters. ...