Constellation Pharmaceuticals, which is developing epigenetic cancer therapies that modulate abnormal genes, raised $60 million in a downsized offering of 4.0 million shares at $15, the midpoint of the $14 to $16 range. It originally filed to raise $80 million by offering 5.34 million shares. Insiders had intended to purchase $30 million of the IPO (50% of the deal). At IPO, the biotech commands a fully diluted market value of $410 million. Constellation Pharmaceuticals plans to list on the Nasdaq under the symbol CNST. J.P. Morgan, Jefferies and BMO Capital Markets acted as lead managers on the deal.
