Deals
BioNTech IPO Falls in Trading Debut as Biotech IPO Wave Ebbs
- October’s ongoing U.S. biotech IPO surge yields mixed results
- BioNTech shares priced below target range in downsized listing
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BioNTech SE rose briefly and then fell in its trading debut after pricing its U.S. initial public offering below its target range as a wave of biotechnology listings recedes.
The German company raised $150 million after pricing its American depositary shares at $15 each Wednesday. The shares, which rose as much as 11% after trading opened, closed down 5.1% to $14.24 Thursday in New York trading, giving the company a market value of about $3.2 billion.