Lycia Therapeutics (LYCA US) <\/a>made quick work of its roadshow and an even bigger impression in its debut. After launching its IPO on Tuesday and reaching the market Friday, the Phase 1 biotech closed its opening session at $30.00, up 66.7% from its $18.00 offering price. The performance rewarded investors who secured allocations, although substantial intraday swings and relatively light trading volume leave questions about how the stock will settle once the opening excitement fades.<\/p>\nLycia priced 17.6 million shares at $18.00, the high end of its indicated $16\u2013$18 range, increasing the offering from 14.7 million shares.\u00a0Shares opened at $28.55, delivering a 58.6% premium to the IPO price. Early profit-taking pushed the stock down to $22.19, although even that low remained 23.3% above issue. Buyers subsequently regained control, carrying shares to an intraday high of $36.49, more than double the offering price.<\/p>\n
Lycia ultimately finished at $30.00, comfortably above its opening trade but below the session high. That close represents a strong result for a company whose clinical programs remain in early development.<\/p>\n
Lycia delivered an impressive debut, particularly against the more difficult backdrop for Phase 1 biotech offerings.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Lycia Therapeutics (LYCA): Short Roadshow Delivers Big Opening Act Lycia Therapeutics (LYCA US) made quick work of its roadshow and an even bigger impression in its debut. After launching its IPO on Tuesday and reaching the market Friday, the Phase 1 biotech closed its opening session at $30.00, up 66.7% from its $18.00 offering price.[…]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[1536],"tags":[],"class_list":["post-33386","post","type-post","status-publish","format-standard","hentry","category-subscriber-content"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/33386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=33386"}],"version-history":[{"count":1,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/33386\/revisions"}],"predecessor-version":[{"id":33387,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/33386\/revisions\/33387"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=33386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=33386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=33386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}