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Public Equity Report: Rapport posts healthy first-day gain as Telix, Grail head for NASDAQ

ARTICLE | Finance

Plus: Structure, Annexon and Summit follow clinical readouts by raising money

By Paul Bonanos, Director of Biopharma Intelligence

June 7, 2024 9:06 PM UTC

Ending a two-month drought for biotech IPOs on NASDAQ, Rapport enjoyed a double-digit first-day pop on Friday after pricing its $136 million public offering squarely within expectations.

Rapport Therapeutics Inc. (NASDAQ:RAPP) sold 8 million shares, as expected, at the $17 midpoint of its proposed range. Accompanying the offering was an $18 million private placement of nearly 1.1 million shares at the same price, giving Rapport gross proceeds of $154 million…