Kronos Bio’s stock opens TK% above IPO price

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Shares of Kronos Bio Inc. soared in their public debut, as they opened 50% above the initial public offering price. The stock’s first trade was at $28.50 at 11:58 a.m. Eastern for 673,799 shares. The IPO was priced at $19 a share, above the expected range of $16 to $18 a share. The California-based biotechnology company raised $250.8 million in the IPO, and the pricing valued the company at about $1.03 billion. The stock has edged higher since its open, to be 53% above its IPO price in recent trading. Meanwhile, the Renaissance IPO ETF was rising 1.8% and the S&P 500 was climbing 1.0%.
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