Berkeley Lights IPO Jumps By Triple Digits As Hot Biotech Begins Trading

▤ Summary

Biotech company Berkeley Lights (BLI) soared Friday as trading began with an explosive initial public offering that drew heightened interest from institutional investors. The Berkeley Lights IPO priced late Thursday and raised $178.2 million, 41% above initial expectations. IPO Boutique this week also placed a 5 rating on financial software company nCino (NCNO). They included Relay Therapeutics (RLAY), a biotech developer of therapies for solid tumors. Among other IPOs on Friday, ALX Oncology (ALXO), priced 8.5 million shares at $19, which was $2 above its estimated range.

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