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Microbiome drugs developer Kaleido Biosciences is joining the ranks of publicly traded biotechs, but it had to sell more shares and cut their price.

The Lexington, MA, company priced its downsized initial public offering of 5 million shares at $15 each, well below the $20 to $22 range it had initially planned. Those shares are expected to begin trading Thursday on the Nasdaq exchange under the stock symbol “KLDO.”

Kaleido emerged in 2017 after incubating within venture capital firm Flagship Pioneering for two years. The company aims to treat disease by targeting the human microbiome, the community of microorganisms inside… Read more »