Prime Medicine, the developer of a “search and replace” gene editing platform, has launched an upsized initial public offering (IPO) that raised $175 million in gross proceeds—about $24 million more than projected just last week.
Prime finished its first day of trading at $15.37—nearly 10% below its IPO price of $17 a share, the midpoint of its price range. The company originally planned to sell 8.9 million shares last week, but boosted that to 10,294,118 shares on Wednesday.
