So far this year, NGM Biopharmaceuticals has licensed a drug to Merck, extended a research agreement with that partner, and laid the groundwork to continue mid-stage testing of its wholly-owned lead compound. Now it can add a $107 million IPO to the list.
Late Wednesday, NGM sold appoximately 6.7 million shares for $16 apiece, the high end of the price range the South San Francisco company had planned. Those shares are expected to begin trading on the Nasdaq exchange Thursday under the stock symbol “NGM.”
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