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Finance Watch: CARGO Gets A Lukewarm Reception After Stock Market Debut

Offering Is 21st Biopharma IPO In The US In 2023

Executive Summary

Public Company Edition: CARGO Therapeutics grossed $281.3m, giving it the fifth-largest biopharma IPO this year. Also, Alkermes completed its cancer business spinout as Mural Oncology, which launched with $275m, and Xencor sold Ultomiris and Monjuvi royalties for $215m.

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