How Did Last Week's IPOs Perform?
Last week, the Nasdaq welcomed four new companies following their initial public offerings. The slate contained a consumer products company alongside three healthcare companies. Let's see what these companies do and how the stocks performed in the initial days of trading.
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Oncology drug developer Black Diamond Therapeutics (NASDAQ: BDTX) thrust out of the gate selling 10.6 million shares at $19. Hovering around $38 per share today, the stock is well above both its IPO price and its initial opening price of $33 per share. The company, led by industry veteran David Epstein, now sports a valuation of $1.3 billion. Even with all the enthusiasm from biotech investors, the lead cancer drug will only start its initial human clinical trials in the first half of this year. Stay tuned to see if the heady valuation remains in the absence of human clinical trial data.
Source Fool.com
