Anchiano Therapeutics IPO prices below assumed price
Israel-based Anchiano Therapeutics Ltd. ANCN, -3.48% said Tuesday said the initial public offering of American Depositary Shares had priced at $11.50 each. With the biotechnology company is offering 2,652,174 ADS to raise $30.5 million, and could raise up to $35.1 million if options granted to underwriters are exercised. The company had previously said it assumed an initial public offering price of $14.55 per ADS. The stock is expected to begin trading Tuesday on the Nasdaq Capital Market under the ticker symbol "ANCN." The company’s lead underwriters are Oppenheimer and Ladenburg Thalmann. The company is going public at a time that iShares Nasdaq Biotechnology ETF IBB, +0.42% has gained 3.7% over the past three months through Monday and the Renaissance IPO ETF IPO, +1.44% has rallied 7.8%, while the S&P 500 SPX, +0.92% has slipped 0.6%.
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