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Hookipa Pharma shares off to lackluster start in trading debut

Ciara Linnane

Hookipa Pharma Inc. shares were barely changed in their trading debut on Thursday, after the biotech priced its initial public offering at the low end of its price range. The stock was up a penny at $14.01. The company, which is using arenavirus-based platforms to develop treatments targeting infectious diseases and cancers, sold fewer shares than expected of just 6 million to raise $84 million. It had earlier said it would sell 6.7 million shares at a price range of $14 to $16. Bank of America Merrill Lynch, SVB Leerink and RBC Capital Markets are joint bookrunners on the deal with Kempen acting as co-manager.