Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares surged the day after Thursday’s initial public offering of 15 million shares at $20 per share.
The Seattle-based company, a commercial-stage biotechnology company that reads and translates the genetic code of the adaptive immune system to develop personalized diagnostics and therapeutics to improve patient lives, says the gross proceeds of the offering are expected to be $300.0 million, excluding any exercise of the underwriters’ option to purchase additional shares.
The offering is expected to close on July 1, subject to the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC, J.P. Morgan and BofA Merrill Lynch are acting as joint lead book-running managers for the offering. Cowen and Guggenheim Securities are acting as book-running managers for the offering. William Blair and BTIG are acting as co-managers for the offering.
Adaptive Biotechnologies is a commercial-stage biotech company focused on harnessing the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease.
Shares moved into Friday’s last hour ahead $4.81 or 11.9% to $45.11
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