On May 5th:
Adaptimmune Therapeutics plc (Nasdaq: ADAP) today announced the pricing of its initial public offering of 11,250,000 American Depositary Shares (ADSs) at a price to the public of $17.00 per ADS. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,687,500 ADSs. The ADSs are expected to begin trading on the NASDAQ Global Select Market under the symbol “ADAP” on May 6, 2015. The offering is expected to close on May 11, 2015, subject to customary closing conditions. Adaptimmune estimates net proceeds from the offering will be approximately $175.7 million.
On May 6th, from IBD:
ritish biotech Adaptimmune Therapeutics (NASDAQ:ADAP) fattened its IPO and priced at the high end of its range late Tuesday, but that seemed to be more than enough for investors as the stock dropped 5.9% to close at 16 in its debut Wednesday.
Adaptimmune priced 11.3 million shares, up from the previously announced 9.4 million, at 17 apiece. The company is the latest new issue developing cancer therapy using T cells, though it's using a different platform than the chimeric antigen receptor (CAR) T-cell therapies in the works from such recent hot IPOs as Juno Therapeutics (NASDAQ:JUNO), Kite Pharma (NASDAQ:KITE) and Bellicum Therapeutics (NASDAQ:BLCM).
Adaptimmune says that its engineered, increased affinity T-cell receptors can attack a wider range of targets than CAR T-cells. One such therapy is in early-stage clinical testing for several cancers in collaboration with GlaxoSmithKline (NYSE:GSK) .
The other T-cell therapy stocks have gotten hammered in the recent biotech selloff, which perhaps accounts for Adaptimmune's soft opening. In fact, the most recent CAR-T IPO, Cellectis (NASDAQ:CLLS), followed a similar pattern of enlarging its IPO but declining once it hit the market in late March.
Read More At Investor's Business Daily: http://news.investors.com/technology/050615-751336-adap-ipo-prices-high-but-falls-in-trading.htm#ixzz3ZT3I90Xu
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