Stock Track | Seaport Therapeutics Soars 25.72% on IPO Debut Amid Strong Investor Demand

Stock Track

05/02

Seaport Therapeutics' stock soared 25.72% intraday on Friday, marking a strong debut for the biotechnology company.

The surge follows the company's initial public offering, which was priced at $18 per share at the top of the targeted range. The IPO was upsized to 14.2 million shares from 11.8 million shares, reflecting robust investor interest. The offering is expected to generate approximately $254.9 million in gross proceeds for the company.

Seaport Therapeutics' stock began trading on the Nasdaq Global Select Market under the ticker SPTX, with the opening price significantly above the IPO price, driving the substantial intraday gain.

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