The company acquired its single product, a prospective treatment for Alzheimer's disease, for $5 million from GlaxoSmithKline plc (ADR) GSK in December, and priced its initial public offering at $15 a share on Wednesday.
Axovant traded recently at $29.07.
Industry Buzz
"There is no doubt that biotech is the one area of the IPO market where there are signs it looks like the dotcom bubble," Renaissance Capital's Kathleen Smith told the Financial Times.
A Quick Look At Axovant
Until May of last year, Ramaswamy, whose mother and brother work for Axovant, was a member of the investment team at hedge fund sponsor QVT Financial LP, with a $1.8 billion portfolio.
Axovant: Looking Ahead
"In the long-term, we intend to develop a pipeline of product candidates to comprehensively address the components of dementia," Axovant said in its prospectus.
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