Reneo Pharmaceuticals, a Phase 2 biotech developing therapies for rare genetic mitochondrial diseases, raised $94 million by offering 6.3 million shares at $15, the low end of the range of $15 to $17. At pricing, Reneo commands a fully diluted market cap of $397 million.
Reneo Pharmaceuticals plans to list on the Nasdaq under the symbol RPHM. Jefferies, SVB Leerink and Piper Sandler acted as lead managers on the deal.
