Generate Biomedicines raises $400 million in Nasdaq IPO
The AI drug developer priced 25 million shares at $16 to fund its protein-based therapies. Trading begins today on the Nasdaq under the ticker symbol GENB.
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Generate Biomedicines announced on Thursday that it successfully raised $400 million in its initial public offering in the United States, pricing its shares at $16 each. The drug developer sold 25 million shares, hitting the midpoint of its estimated range of $15 to $17. The company is scheduled to begin trading on the Nasdaq under the ticker symbol GENB this Friday.
