NGM Biopharmaceuticals (NGM) IPO Opens Lower

Today's IPO for NGM Biopharmaceuticals (NASDAQ: NGM) opened for trading at $15 after pricing 6,666,667 shares of common stock at a price to the public of $16.00 per share.

In addition, NGM has granted the underwriters a 30-day option to purchase up to 1,000,000 additional shares of common stock at the initial public offering price less underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Cowen and Company, LLC are acting as joint book-running managers for the offering.

NGM is a clinical stage biopharmaceutical company focused on developing novel therapeutics based on scientific understanding of key biological pathways underlying cardio-metabolic, liver, oncologic and ophthalmic diseases. The company leverages its biology-centric drug discovery approach to uncover novel mechanisms of action and generate proprietary insights that enable it to move rapidly into proof-of-concept studies and deliver potential first-in-class medicines to patients. NGM aspires to operate one of the most productive research and development engines in the biopharmaceutical industry, with multiple programs in clinical development.

You May Also Be Interested In

• Cerebras CEO says investors misunderstood margin guidance
• NuCube Energy to go public via SPAC deal valued at $500M
• Goldman Sachs (GS) Reiterated at Market Perform by Citizens on Constructive Backdrop