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TRexBio Closes $116.7 Million Initial Public Offering at $14 Per Share

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TRXB$13.60 −3.06%

TRex Bio, Inc. (TRXB) has completed its initial public offering, selling 8,333,334 shares of common stock at $14.00 per share. The South San Francisco-based clinical-stage biotechnology firm raised approximately $116.7 million in aggregate gross proceeds before accounting for underwriting discounts, commissions, and offering expenses. All shares in the offering were sold directly by the company, with trading taking place on the Nasdaq Global Select Market.

The capital infusion supports TRex Bio's ongoing research and development efforts in tissue Treg biology. The company utilizes its proprietary Deep Biology Platform to decode regulatory T-cell functionality in human tissue, aiming to map key drivers of immune dysregulation and discover immunoregulatory medicines for patients suffering from autoimmune and inflammatory diseases. The development candidate pipeline includes both wholly owned programs and collaborative projects with pharmaceutical partners.

Investors will track how TRex Bio deploys its new capital to advance its therapeutic pipeline from clinical testing toward potential commercialization. Market participants will also monitor stock performance following its debut; in recent trading, the company's shares were priced at $13.60, representing a 3.06% decline from the initial offering price.

Key points

  • TRex Bio, Inc. closed its IPO of 8,333,334 common shares at $14.00 per share.
  • The transaction generated roughly $116.7 million in total gross proceeds for the company.
  • All offered shares were issued and sold by TRex Bio to list on the Nasdaq Global Select Market under symbol TRXB.
  • The clinical-stage biotech develops immunoregulatory drugs for autoimmune and inflammatory conditions using its tissue Treg platform.
  • Shares were last trading at $13.60, down 3.06% on the day.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

How much money did TRexBio raise in its IPO?

TRex Bio raised approximately $116.7 million in aggregate gross proceeds before underwriting discounts and expenses, selling 8,333,334 shares of common stock at $14.00 per share.

What is TRexBio's stock ticker and market exchange?

TRex Bio, Inc. trades on the Nasdaq Global Select Market under the ticker symbol TRXB.

What does TRexBio do?

TRex Bio is a clinical-stage biotechnology company that uses its Deep Biology Platform to discover immunoregulatory medicines for autoimmune and inflammatory diseases.