The Takeda-backed gastrointestinal disease therapy developer has boosted its initial public offering to $209m after its shares rose 23% post-flotation.

Phathom Pharmaceuticals, a US-based company that has licensed a gastrointestinal disease medicine from pharmaceutical firm and investor Takeda, formally closed its initial public offering at $209m yesterday. The company issued approximately 9.56 million shares on the Nasdaq Global Select Market on Friday priced at $19.00 each. Its shares closed at $23.59 on Monday, leading the…

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