Passage Bio Inc (NASDAQ:PASG), a preclinical biotechnology company focused on central nervous system disorders, opted to boost its IPO share offering on Thursday.
The Philadelphia-based company now plans to raise $170 million by offering 10 million shares, 2.6 million more than originally planned, at a price between $16 and $18 per share.
READ: IPO Roundup: Passage Bio lone IPO this week; Chinese medical education platform Zhongchao begins trading
The resulting offer would raise 35% more in proceeds than the previously expected $126 million and would give the company a fully diluted market cap of $757 million, according to IPO research firm Renaissance Capital.
Passage Bio, founded in 2017, recently launched a strategic research collaboration with the Trustees of the University of Pennsylvania's Gene Therapy Program.
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