Alexandria Real Estate Equities-backed Applied Therapeutics has gone public despite having to drastically cut its expectations for the offering.

Applied Therapeutics, a US-based molecular drug developer backed by life sciences real estate trust Alexandria Real Estate Equities, has gone public, issuing 4 million shares priced at $10 each. The $40m in proceeds are less than half of the $86.3m the company had initially targeted when it filed for an initial public offering last month.…

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