by

LogicBio Therapeutics Underperforms with $70 Million Nasdaq IPO

Co-founded by Israel-born Adi Barzel, LogicBio develops genome-editing treatments for rare diseases

Lilach Baumer 16:5921.10.18

Pre-clinical genome editing company LogicBio Therapeutics Inc. raised $70 million on its Nasdaq initial public offering last week, under the ticker LOGC. The company offered seven million shares at $10 per share, below its initial expected range of $12-$14. The stock closed at $11.5 on Friday, a 15% increase.

For daily updates, subscribe to our newsletter by clicking here.

Founded in 2014 and headquartered in Cambridge, Massachusetts, LogicBio develops treatments for rare diseases using a technology licensed from Stanford University and the University of Texas that enables the insertion of corrective genes into a patient’s genome. The company is initially focusing on rare liver disorders in pediatric patients.

Nasdaq. Photo: Nasdaq

LogicBio was co-founded by Israel-born Adi Barzel, and has a wholly owned research and development subsidiary called LogicBio Therapeutics Research Ltd. in Tel Aviv.