Blueprint prices IPO above range, raises $147m
This article was originally published in Scrip
Executive Summary
Blueprint Medicines has priced its heavily oversubscribed initial public offering (IPO) of just over 8 million shares at $18.00 per share, above the initial range of $15-$17. This led to gross proceeds of $147m and a market capitalization of $465m, "a pleasing result for a young biotechnology company not in the immune-oncology space and with two drugs about to enter the clinic," noted Thilo Schroeder, partner at Blueprint investor Nextech Invest and former member of its board.