Akouos, a preclinical biotech developing gene therapies for inner ear disorders, raised $213 million by offering 12.5 million shares at $17, above the original range of $14 to $16, and in line with the upwardly-revised share offering and price it filed on Thursday morning. At the offer price, Akouos raised 70% more in proceeds than originally anticipated.
Akouos is the latest biotech to see higher-than-anticipated demand: the 2020 biotech IPO class averages a return of roughly 80%.
Akouos plans to list on the Nasdaq under the symbol AKUS. BofA Securities, Cowen, Piper Sandler and BTIG acted as lead managers on the deal.
