Graphite Bio (GRPH) IPO Opens 30% Higher

Today's IPO for Graphite Bio, Inc. (NASDAQ: GRPH) opened for trading at $22.10 after pricing 14,000,000 shares of its common stock at a price to the public of $17.00 per share.

Morgan Stanley, BofA Securities, Cowen and SVB Leerink are acting as joint book-running managers for the offering.

Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine’s most elusive goals: to precisely “find & replace” any gene in the genome. Graphite Bio’s platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

You May Also Be Interested In