Shares of Beta Bionics, Inc. (BBNX) surged as much as 41.06% in intraday trading on Thursday, marking a stellar debut for the company's initial public offering (IPO) on the Nasdaq stock exchange.
The biotech firm, which specializes in developing advanced insulin delivery systems, saw its stock open at $22 per share, significantly higher than the $17 IPO pricing. The strong investor appetite drove the stock price up to $23.28 at its intraday peak, representing a remarkable gain of nearly 37% from the IPO level.
Beta Bionics' successful Nasdaq listing raised approximately $204 million in proceeds from the IPO, excluding the overallotment option. The company offered 12 million shares to the public, while granting underwriters an option to purchase an additional 1.8 million shares from the company and existing stockholders.
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