Biotech Denali Biotherapeutics Inc. priced its initial public offering at $18 a share, the midpoint of its $17 to $19 price range. The company sold 13.9 million shares to raise $250 million, giving it a valuation of $1.7 billion, according to Renaissance Capital, a manager of IPO-focused ETFs like the Renaissance IPO ETF . Goldman Sachs, Morgan Stanley and J.P. Morgan were lead managers on the deal. The stock will start trading today on Nasdaq under the ticker symbol “DNLI”.
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