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LianBio to go public as IPO prices in middle of expected range, as the biotech was valued at about $1.7 billion

Economy, Finance

LianBio is set to go public Monday, after the biotechnology company with operations in the U.S. and China said its initial public offering priced at $16 a share, in the middle of the expected range of between $15 and $17 a share. The company offered 20.31 million American depositary shares in the IPO to raise $325.0 million. The IPO pricing values the company at about $1.68 billion. The stock is expected to begin trading on the Nasdaq some time after the open under the ticker symbol “LIAN.” The company has recorded a net loss of $161.9 million on no revenue during the six months ended 2021, after a loss of $6.7 million on no revenue in the same period a year ago. The company is going public at a time that the Renaissance IPO ETF has climbed 9.3% over the past three months while the S&P 500 has gained 4.8%.

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