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Burning Rock Raises $223 Million In US IPO; Climbs 50% in Trading

publication date: Jun 12, 2020

Burning Rock Biotech of Guangzhou, a company that offers precision medicines cancer testing, completed a $223 million IPO on the NASDAQ. The company placed 13.5 million ADSs at a price of $16.50 each. The ADSs opened 50% higher, giving Burning Rock a market capitalization of $2.5 billion. In addition to its precision medicine business, the company is developing tests for early cancer detection based on next-gen sequencing. It raised an additional $25 million in a private placement at the offering price. More details....

Stock Symbol: (NSDQ: BRN)

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