Septerna valued at $970 million as shares rise nearly 31% in Nasdaq debut

(Reuters) – Septerna’s shares rose about 31% in their market debut on Friday, giving the Goldman Sachs-backed biotech firm a valuation of $970 million.

The company’s shares opened at $23.5 in their Nasdaq debut, compared with the IPO price of $18. Septerna upsized its offering twice on Thursday to sell 16 million shares, to raise $288 million.

Biotech firms’ public listings have received a warm reception from investors in recent times. September turned out to be one of the busiest months for healthcare IPOs, as per Dealogic data.