Acelyrin makes a splash with IPO, biopharma expects to raise $540M

Acelyrin went public Friday — and the biotech expects its upsized public offering to raise $540 million, the company announced.

The biopharma will now offer 30 million shares of common stock for $18 a share, and has given underwriters 30 days to buy up to 4.5 million more shares of common stock at the IPO price.