Solid tumor biotech Fusion Pharmaceuticals prices upsized IPO at $17, above the range

Fusion Pharmaceuticals, a Phase 1 biotech developing radiopharmaceuticals for solid tumors, raised $213 million by offering 12.5 million shares at $17, above the range of $14 to $16. The company originally filed to offer 8.4 million shares at the same range before increasing the share offering to 12.5 million earlier in the week. At pricing, the company commands a fully diluted market cap of $774 million (+25% vs. original terms).

Fusion Pharmaceuticals plans to list on the Nasdaq under the symbol FUSN. Morgan Stanley, Jefferies, and Cowen acted as lead managers on the deal.

The article Solid tumor biotech Fusion Pharmaceuticals prices upsized IPO at $17, above the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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