BUZZ - Iambic Therapeutics, backed by Nvidia, surges on its first trading day after completing a $150 million IPO

October 15 - ** Iambic Therapeutics (IAM.O) soared 19% to $19.08 on its first day of trading on Nasdaq after completing its $150 million US initial public offering (IPO)

** The drug development company backed by Nvidia opened at $16.15 per share, above its IPO issue price of $16

** San Diego, California-based IAM sold (link) 9.38 million shares at a price within the range of $15 to $17 per share (link)

** Despite overall volatility in the IPO market, the biotech sector remains a major highlight

** “At present, this seems more like a small bump rather than a three-car pileup… We’ve seen similar pullbacks before,” said Renaissance Capital senior strategist Matt Kennedy

** Iambic is leveraging its AI platform (link) to advance a range of drug candidates for the treatment of solid tumors

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