The Novo-backed musculoskeletal disease therapy developer's market capitalisation stood at $1.6bn as of close of trading yesterday.

Edgewise Therapeutics, a US-based musculoskeletal disease drug developer that counts pharmaceutical firm Novo as an investor, closed an initial public offering on the Nasdaq Global Market at $202m on Tuesday. The company raised an initial $176m last week, pricing 11 million shares at $16.00 each. Its shares closed trading at $32.50 yesterday, equating to a…

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