Drug developer Seaport Therapeutics announced on Thursday that it had raised approximately $255 million through its upsized initial public offering in the United States.
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- The company said in a statement that it sold 14.16 million shares at $18 each.
- Earlier, the Boston-based Seaport had aimed to raise up to $212.4 million by offering 11.8 million shares at a price range of $16 to $18 apiece, which could have valued the firm at roughly $912 million.
- The clinical-stage biotechnology company is focused on developing oral treatments for depression, anxiety, and other neuropsychiatric conditions. Its lead drug candidate, GlyphAllo, is currently being developed to treat major depressive disorder.
- Biotech IPOs are beginning to reappear in stock markets after a prolonged slowdown throughout much of 2025. Recent interest rate cuts by central banks have helped revive investor activity, although inflation driven by ongoing conflicts could prompt rate increases later this year.
- Seaport is expected to list on the Nasdaq under the ticker symbol “SPTX.” Goldman Sachs, J.P. Morgan, and Leerink Partners are serving as underwriters for the offering.
