(Reuters) – Septerna’s shares rose about 31% in their market debut on Friday, giving the Goldman Sachs-backed biotech firm a valuation of $970 million.
The company’s shares opened at $23.5 in their Nasdaq debut, compared with the IPO price of $18. Septerna upsized its offering twice on Thursday to sell 16 million shares, to raise $288 million.
Biotech firms’ public listings have received a warm reception from investors in recent times. September turned out to be one of the busiest months for healthcare IPOs, as per Dealogic data.
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