Business
Apnimed Shares Rise in Initial Trading After Upsized IPO
Apnimed Shares Rise in Initial Trading After Upsized IPO
About this update from Apnimed, Inc.
By Colin KellaherShares of Apnimed moved higher in their trading debut Friday after the clinical-stage pharmaceutical company's upsized initial public offering was priced at the high end of expectations.The Cambridge, Mass., company sold 12 million shares at $16 apiece in the IPO, raising $192 million, after previously saying it planned to offer 10 million shares at between $14 and $16 each.Apnimed shares were recently changing hands at $17.38, up 8.6%, after opening at $22.00.Write to Colin Kellaher at [email protected]