ArriVent BioPharma was beaten to the first biotech initial public offering of the year when CG Oncology made its debut on the Nasdaq yesterday, but is due to start trading on the exchange this morning.
The Pennsylvania-based biotech looks set to raise $175 million from the sale of more than 9,7 million shares at $18 each, in another oversubscribed debut that surpasses prior projections. ArriVent will trade under the ticker symbol AVBP when the Nasdaq opens shortly.
