NantKwest Inc. shares opened at $37 in their trading debut, 48%
above their initial public offering price.
The early-stage immunotherapy biotech company raised about $207
million by selling 8.3 million shares at $25 each late Monday, a
total that doesn't include an overallotment option, which gives
underwriters the opportunity to sell additional shares under
certain circumstances.
The company, which is developing treatments that use the immune
system to treat cancer, infectious diseases and inflammatory
diseases, had planned to sell seven million shares between $20 and
$23, according to a regulatory filing.
NantKwest began trading on the Nasdaq Global Select Market under
the symbol "NK" on Tuesday. Bank of America Corp., Citigroup Inc.,
Jefferies and Piper Jaffray led the deal.
Write to Corrie Driebusch at corrie.driebusch@wsj.com
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