Imara, a Phase 2 biotech developing small molecule therapies for rare genetic disorders, raised $75 million by offering 4.7 million shares at $16, the low end of the range of $16 to $18, to command a $286 million fully diluted market cap. Imara plans to list on the Nasdaq under the symbol IMRA. Morgan Stanley, Citi and SVB Leerink acted as lead managers on the deal.
