“AI drug developer Iambic Therapeutics closed its first day of trading up more than 18%.”
“I think it's important to not regard AI as a magic wand.”
AI-extracted from podcast / newsletter / paper summaries. May contain errors.
“It priced at the midpoint of its range, for an $809m market cap, and will list on the Nasdaq (IAM).”
“Around $60 million of the IPO shares would be purchased by Stan Druckenmiller's Duquesne Family Office and existing investor Cathie Wood's ARK Investment Management.”
“Iambic would raise around $160 million at a $900 million valuation were it to price at the top of its IPO range, after having raised around $350 million from venture capital firms.”
“Wall Street is scratching its head over Iambic Therapeutics, an AI biotech that plans to go public this week. Either it's the bargain of a lifetime or the private markets are wildly overvaluing one of its top comps, Alphabet-backed Isomorphic Labs.”
“Even if Alphabet board member and Nobel Prize winner Frances Arnold is on Iambic's scientific advisory board.”
“Iambic Therapeutics... filed to go public on Nasdaq under the ticker IAM.”
Source→“Iambic Therapeutics — AI drug discovery company filing for IPO”