April 30 (Reuters) – Drug developer Seaport Therapeutics said on Thursday it had raised about $255 million in its upsized initial public offering in the United States.
Here are the details:
• The company sold 14.16 million shares at $18 apiece, the company said in a statement.
• Previously, Boston-based Seaport had planned to raise up to $212.4 million by offering 11.8 million shares priced between $16 and $18 each, potentially valuing the company at as much as about $912 million.
• The clinical-stage biotech company is developing oral therapies for depression, anxiety and other neuropsychiatric disorders. Its lead candidate, GlyphAllo, is being developed for a major depressive disorder.
• Biotech listings are returning to stock markets after a drought through much of 2025, as recent central bank rate cuts help revive capital flows, though war-driven inflation may lead to rate hikes later this year.
• Seaport is expected to list on the Nasdaq under the ticker symbol “SPTX”.
• Goldman Sachs, J.P. Morgan and Leerink Partners are among the underwriters for the offering.
(Reporting by Preetika Parashuraman in Bengaluru; Editing by Sonia Cheema)
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