BUZZ - Bambusa Therapeutics surges on debut after increasing IPO size to $169 million

October 30 - ** Drug developer Bambusa Therapeutics (BBTX.O) is expected to open above the IPO price on its first day of trading on Nasdaq, after increasing the size of its US initial public offering (IPO) to 168.9 million USD.

** The stock most recently indicated an opening price of $31.20 per share, while the IPO price was $16.

** BBTX, headquartered in Boston, Massachusetts, develops therapies for immune and inflammatory diseases. In this IPO, it planned to sell about 10.6 million shares at a price range of $15 to $17 per share (link), for more details see (link).

** Its lead drug candidate, BBT001, is in early-stage development, targeting the treatment of a type of dermatitis and other inflammatory skin diseases.

** While the overall IPO market remains weak, biotechnology issuers were active in October, whereas rising borrowing costs and volatile market conditions have weighed on other sectors.

** BofA Securities, Evercore ISI, UBS Investment Bank, and Cantor are acting as joint bookrunners.

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