Shares of Camp4 Therapeutics Corp. (CAMP) skyrocketed 2690% in their trading debut on Friday, following the biotechnology company's successful $75 million initial public offering (IPO).
Camp4 Therapeutics priced its IPO of around 6.8 million common shares at $11 per share on Thursday evening. The company granted underwriters a 30-day option to purchase up to an additional 1 million shares.
The robust trading debut reflects strong investor demand for the newly public biotech firm, which is focused on developing novel therapies for cancer and other diseases. Camp4's IPO proceeds will help fund ongoing research and development activities as the company advances its pipeline of innovative drug candidates.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.