The Celgene and GV-backed small molecule drug developer floated at the bottom of its range, raising less than half the target it set last week.

Rapt Therapeutics, a US-based cancer and atopic dermatitis therapy developer backed by internet technology conglomerate Alphabet and pharmaceutical firm Celgene, raised $36m yesterday in a scaled back initial public offering. The IPO consisted of 3 million shares issued on the Nasdaq Global Market at a price of $12.00 each, at the bottom of the IPO’s…

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