Third Harmonic Bio Inc. THRD, +17.94%, a biotech specializing in allergic and inflammatory diseases, priced its initial public offering late Wednesday at $17 a share the midpoint of its $16 to $18 price range. But the company was able to upsize the deal to 10.9 million shares from an earlier plan to offer just 9 million. raising proceeds of $185.3 million. The stock will start trading later Thursday on Nasdaq under the ticker “THRD.” Morgan Stanley, Jefferies and Cowen were joint bookrunners on the deal with LifeSci Capital acting as co-manager. The loss making company is still pre-revenue. The Renaissance Capital IPO ETF IPO, +0.94% has fallen 43% in the year to date, while the S&P 500 SPX, -0.26% has fallen 17%.
