initial public offerings (IPOs) trading on American exchanges

Thursday, July 19, 2018

Constellation Pharma (CNST) began trading on the Nasdaq on 19 July 2018

  • Constellation Pharmaceuticals IPO priced its initial public offering late Wednesday right in the middle of the expected range, but cut the size of its offering by 25%. 
The IPO priced at $15 a share but the shares offered was reduced to 4.0 million from the 5.34 million, to raise $60 million instead of $80.1 million. 

The biotechnology company is developing cancer therapies that modulate abnormal genes. The company had a net loss of $53.8 million in 2017, after a loss of $49.5 million in 2016, and had no revenue. 

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