With Selecta's $70 Million IPO, Mass Biotechs Raised a Total of $376 Million This Year

Published: Jun 24, 2016

Selecta Biosciences is trading flat after raising $70 million in an initial public offering Wednesday, becoming the sixth biotech firm so far this year to go public.

The Watertown company, which is developing a lead drug for gout, started trading Wednesday priced at $14 a share, the bottom of its proposed range. Selecta (Nasdaq: SELB) reported having $26 million in cash and $121 million in debts as of March 31.

Back to news