Finance History | Nasdaq MarketSite — Seven Fifty for an AMEX Book Called IPI
· 1993-11
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Finance History | Nasdaq MarketSite — Seven Fifty for an AMEX Book Called IPI
kevin
People treat Incyte as a Wilmington oncology house that always printed INCY after Jakafi.
The November 1993 issuer was Incyte Pharmaceuticals, a Palo Alto genomics shop incorporated in 1991.
BioWorld recorded the offering on 16 November 1993: 2.3 million shares at 7.50 dollars a share, gross proceeds 17.25 million dollars in 1993 currency, including 300,000 overallotment shares taken by D. Blech and Co.
The same dispatch said the stock began trading on 4 November 1993 on the American Stock Exchange under the letters IPI.
It gained 88 cents on the following Monday and closed at 9.25 dollars.
After the offering the company had about 6.4 million shares outstanding.
The issuer later moved the tape to Nasdaq and, in March 2003, changed its name from Incyte Genomics to Incyte Corporation. The letters now printed are INCY.
The mechanism is a gene-database company priced as public research capacity before the later pivot to small-molecule drugs.
Nasdaq MarketSite at 4 Times Square opened in 2000, seven years after the AMEX first print. The pin is that public facade, the later home of the INCY book. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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