Rapport Navigates Rough IPO Market With Well-Received Offering

Rough Waters For Most That Have Gone Public In 2023

 
• By Mandy Jackson
  
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Rapport Therapeutics launched an initial public offering in the middle of a proposed price range, and the CNS-focused company closed slightly above its IPO price on its first day of trading.

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Rapport sailed through a successful IPO and first day of trading • Source: Shutterstock

Rapport Therapeutics Inc. charted a path for its initial public offering and executed the IPO according to the plan it laid out for investors, reaping a slight reward on its first day of trading on 7 June during a period when other newly public biopharmaceutical companies have struggled to keep their heads above water.

Key Takeaways

  • Rapport raised $154m with a $136m IPO and concurrent $18m private placement and its stock performed well in its first day of trading.

Boston- and San Diego-based Rapport priced its offering of 8 million shares at $17 each on 6 June, right in...

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