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Even with Eli Lilly's endorsement, TRex Bio (TRXB.US) struggles to enjoy a premium, as the issue price drops to the lower limit of $14.
Early-stage biotechnology company TRex Bio has priced its IPO at the lower end of the range at $14 per share, raising $116.7 million and achieving a market capitalization of $384 million. The company will be listed on Nasdaq on Friday, with Eli Lilly expressing interest in increasing its stake.
Small molecule biotechnology company Iambic Therapeutics (IAM.US) IPO priced at $15-17 per share, aiming to raise $150 millions.
Iambic Therapeutics plans to raise $150 millions by issuing 9.4 million shares, with an offering price range of $15 to $17 per share.
Pimco warns: 10-year US Treasury yield may hit 6%, for the first time since 2000
PIMCO's Chief Investment Officer stated that due to high oil prices intensifying inflation concerns and market unease over the growing U.S. public debt, the benchmark 10-year U.S. Treasury yield could rise to 6% for the first time since 2000.
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