Kronos Bio’s stock opens 50% above IPO price

Shares of Kronos Bio Inc.¬†KRON¬†soared in their public debut, as they opened 50% above the initial public offering price…

The stock’s first trade was at $28.50 at 11:58 a.m. Eastern for 673,799 shares.

The IPO was priced at $19 a share, above the expected range of $16 to $18 a share.

The California-based biotechnology company raised $250.8 million in the IPO, and the pricing valued the company at about $1.03 billion.

The stock has edged higher since its open, to be 53% above its IPO price in recent trading. Meanwhile, the…

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