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SoftBank-backed Neumora bags $2.51 billion valuation in lacklustre debut
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Neumora Therapeutics, which is backed by Amgen and Japan's SoftBank, fell in their market debut on Friday, giving the company a market capitalisation of $2.51 billion.
The Watertown, Massachusetts-based company's shares debuted at $16.50 per share on Nasdaq, below the offer price of $17 apiece.
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Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Digital MarketingVisitIndian School of BusinessISB Applied Business AnalyticsVisitIndian School of BusinessISB Professional Certificate in Digital MarketingVisitIndian School of BusinessISB Digital Marketing and AnalyticsVisit The ongoing surge in listings points to a nascent recovery in the US IPO market amid growing expectations of a pause in interest rate hikes by the Federal Reserve.
Neumora, which is developing drugs for brain diseases, raised $250 million by selling 14.7 million shares priced at the mid-point of its previously disclosed range. That gave the IPO a valuation of $2.58 billion.
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