Global Blood Therapeutics (GBT) IPO Opened Up 73%

Today's IPO for Global Blood Therapeutics (NASDAQ: GBT) opened for trading at $34.65 after pricing 6,000,000 shares of common stock at an initial public offering price of $20 per share, above the expected $16-$18 range.

Morgan Stanley and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. Cowen and Company and Wedbush PacGrow are acting as co-managers.

Global Blood Therapeutics, Inc. (GBT) is a clinical stage biopharmaceutical company dedicated to discovering, developing and commercializing novel therapeutics to treat grievous blood-based disorders with significant unmet need. GBT is developing its initial product candidate, GBT440, as an oral, once-daily prophylactic therapy for sickle cell disease (SCD) and is currently evaluating GBT440 in both healthy subjects and SCD patients in a randomized, placebo-controlled, double-blind Phase 1/2 clinical trial. In addition to GBT440 for the treatment of SCD, GBT is engaged in research and development activities targeted toward hypoxemic pulmonary disorders, including idiopathic pulmonary fibrosis (IPF), and hereditary angioedema (HAE).

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