Lexeo drops share price at last minute in attempt to raise $100M IPO

Lexeo Therapeutics has disclosed plans to join the coveted ranks of biotechs raking in nine figures from their Nasdaq offering, despite downsizing its ambitions over the past few days.

The clinical-stage gene therapy developer plans to sell off 9.09 million shares for $11 apiece, which would bring in gross proceeds of $100 million, Lexeo explained in a Nov. 2 release. Underwriters will also have 30 days to purchase up to an additional 1.3 million shares of common stock at the same price.