Metagenomi shares dropped 31% on Friday afternoon in a disappointing debut on the Nasdaq Global Select Market, highlighting the potential perils faced by preclinical biotechs seeking to go public, according to Seeking Alpha.
Tag Archive for: Alto Neuroscience
Alto Neuroscience and Fractyl Health provided further momentum to the recent spate of biotech initial public offerings, with both companies going public on Friday morning in respective $128 million and $110 million IPOs.
Alto Neuroscience and Kyverna Therapeutics are following in the footsteps of CG Oncology, Metagenomi and Arrivent in seeking initial public offerings this year.
Following promising results in major depressive disorder, Alto Neuroscience on Tuesday reported positive data for its investigational drug ALTO-100 in post-traumatic stress disorder.