Veradermics, Inc. (MANE) saw its stock price soar 94.12% during intraday trading on Wednesday, following its initial public offering.
The biopharmaceutical company priced its upsized IPO of 15.08 million shares at $17 per share, above its expected range of $14 to $16. The offering raised approximately $256.3 million in gross proceeds.
Market indications ahead of trading showed strong investor demand, with the stock indicated to open at a significant premium to its IPO price, contributing to the substantial intraday gain.
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