: Advanced Biomed sets IPO terms, which could value the biotech at up to $625 million

Advanced Biomed Inc. ADVB has set terms for its initial public offering, in which the Taiwan-based biotechnology company focused on treating cancer is looking to raise up to $125 million. The company said it is offering 25.0 million shares in the IPO, which is expected to price between $4 and $5 a share. That pricing would value the company at up to $625 million. The stock is expected to trade on the Nasdaq exchange under the ticker symbol “ADVB.” The underwriter of the IPO is Univest Securities. For the nine-month period ended March 31, 2023, the company recorded a net loss of $2.05 million on no revenue, after a loss of $1.33 million on no revenue in the same period a year ago. The company is looking to go public at a time of relatively high investor interest in IPO share, as the Renaissance IPO exchange-traded fund has rallied 24.9% over the past three months while the S&P 500 SPX has gained 9.6%.

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