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Terns Pharmaceuticals Trades Moderately Higher in Nasdaq Debut

· 02/05/2021 09:13

02:01 PM EST, 02/05/2021 (MT Newswires) -- Terns Pharmaceuticals (TERN), a group developing therapy for non-alcoholic steatohepatitis and chronic liver diseases, said on Friday it priced its upsized initial public offering of 7.5 million shares at $17 each.

Gross proceeds came in at $127.5 million, according to a statement. Shares traded up 1.5% intraday on the Nasdaq Global Select Market.

All the shares were being offered by the company, which has granted the underwriters a 30-day option to purchase an additional 1.125 million shares. The offering is set to close Feb. 9.

Price: 17.26, Change: +0.26, Percent Change: +1.53