PMV Pharmaceuticals prices IPO at top end of expectations, raises $211.8 million

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PMV Pharmaceuticals Inc.’s initial public offering priced at $18 a share, which was at the top of the expected range of $16 to $18 a share. The oncology company said late Thursday that it sold 11.765 million shares in the IPO, which was recently upsized from 7.35 million shares, to raise $211.8 million. With 43 million shares outstanding after the IPO, the pricing valued that company at $773.99 million. Goldman Sachs, BofA Securities, Cowen and Evercore are the joint book-running managers. The stock is expected to begin trading Friday on the Nasdaq under the ticker symbol “PMVP.” The company is going public at a time that the Renaissance IPO ETF has rallied 20.1% over the past three months, while the S&P 500 has gained 5.3%.
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