City Therapeutics（CTY）上调规模的IPO募资约2亿美元，上市首日盘中涨逾20%但涨幅已明显收窄

City Therapeutics ( CTY ), a developer of a novel treatment class known as RNA interference therapies, added more than 20% on Friday after an upsized initial public offering that raised roughly $200M in gross proceeds. Shares of the Cambridge, Massachusetts-based biotech opened for trading at $23 shortly before 12 pm ET, implying a 28% gain from the IPO price. The stock gradually lost its initial momentum, slipping ~5% to approach $21.93 about an hour later, still implying a 23% jump. Late Thursday, the company priced the offering of more than 11.1M of its shares at $18 apiece, with underwriters having a 30-day option to buy up to 1.7M shares additionally at the IPO price less discounts and commissions. City ( CTY ), co-founded by John Maraganore, a former CEO of Alnylam ( ALNY ), has a valuation of more than $1.1B based on its latest stock price and the shares of its common stock expected to be outstanding after the offering.