Aerovate Therapeutics (AVTE) IPO Doubles on Open

Today's IPO for Aerovate Therapeutics, Inc. (NASDAQ: AVTE) opened for trading at $28 after pricing 8,682,142 shares of common stock at a public offering price of $14.00 per share.

Jefferies LLC, Cowen and Company LLC, and Evercore Group L.L.C. are acting as joint book-running managers for the offering. Wedbush Securities Inc. is acting as a lead manager for the proposed offering.

Aerovate is a clinical stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary disease. Aerovate's initial focus is on advancing AV-101, its dry powder inhaled formulation of the drug imatinib for the treatment of pulmonary arterial hypertension, or PAH.

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