Shares of cancer biotech Cyteir down after $133M IPO

Cyteir Therapeutics, an early-stage oncology startup, raised $133 million on its first day of trading on Friday — but its share prices have fallen after an initial rise. The Lexington biotech is trading on the Nasdaq under the symbol "CYT." Its shares were trading at around $17 as of 2 p.m. on Monday, about a 5% decrease from the initial $18 offering. Cyteir priced its shares at the high end of its range, which it had set at $16 to $18. Cyteir sold 7.4 million shares in Friday's offering, with…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news