Nuvalent (NUVL) IPO Opens 6% Higher

Today's IPO for Nuvalent, Inc. (NASDAQ: NUVL) opened for trading at $18.10 9,750,000 shares of common stock, consisting of 9,150,000 shares of Class A common stock and 600,000 shares of Class B common stock, each at a price to the public of $17.00 per share.

J.P. Morgan, Cowen and Piper Sandler are acting as joint book-running managers for the offering.

Nuvalent, Inc. is creating precisely targeted therapies designed to overcome the limitations of existing therapies for clinically proven kinase targets for patients with cancer. Leveraging deep expertise in structure-based design, Nuvalent develops innovative small molecules with exquisite target selectivity to overcome resistance, minimize adverse events, and drive more durable responses. Nuvalent is advancing a robust pipeline with parallel lead programs in ROS1-positive and ALK-positive NSCLC, along with multiple discovery-stage research programs.

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