MorphoSys, which is licensing antibodies to pharmas and developing its own novel therapies, raised $208 million in its US initial public offering.
Listed on the Franfurt Stock Exchange, MorphoSys offered 8.3 million ADSs at $25.04, a 6.5% discount to the as-converted price of $26.77 for its European shares at Wednesday's close. At $25.04 per ADS, MorphoSys commands an IPO market cap of $3.1 billion. It is the largest biotech to go public in the US in over a decade.
The company plans to list on the Nasdaq under the symbol MOR. Goldman Sachs, J.P. Morgan and Leerink Partners acted as lead managers on the deal.
