Aduro (ADRO) Biotech IPO
With an expected IPO price of $17, Aduro Biotech (NASDAQ:ADRO), a developer of cancer immunotherapy treatments, is riding the current wave of biotech interest by posting the one of the best IPO opening days of 2015. Out of the gates at an amazing $32 per share, Aduro rose to an impressive close at $42, up 147.06%. Aduro was up to $44.40 in after hours trading.
Aduro is developing innovative therapies that attack a variety of cancers utilizing targeted and vigorous immune responses. The company’s core LADD platform (Live, Attenuated, Double-Deleted Listeria mononcytogenes) is the driving force for their drug development efforts. They are also in the developing stages of creating a complementary platform based on CDNs (cyclic dinucleotides.)
Existing shareholders in Aduro include Johnson & Johnson Innovation, which is a venture capital unit of Johnson & Johnson (NYSE:JNJ). The group was expected to purchase up to $30 million of Aduro shares at the IPO price.
Immunotherapy is a fast emerging field and helping to keep the biotech train running rampant in the markets. Some upcoming IPOs in this field to look out for are Adaptimmune Therapeutics (NASDAQ:ADAP) and KemPharm (NASDAQ:KMPH), which should be opening up later this week.