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On October 15, Iambic Therapeutics, a clinical-stage cancer drug development company backed by NVIDIA, completed its initial public offering (IPO) in the United States, raising $150 million. The offering price was set at the midpoint of the marketing range at $16 per share, with approximately 9.38 million shares issued. Previously, Iambic had set a price range of $15 to $17 per share for the offering. Based on the IPO offering price and the outstanding shares disclosed in the filing documents, the company's market capitalization reached $758 million. Iambic utilizes artificial intelligence and machine learning technologies to develop new therapies, and the funds raised from this IPO will be used to advance the development of three early-stage cancer drug candidates.
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