An Amgen disclosure of a large stake in Neumora Therapeutics indicated the value of its investment in the biotech, which recently went public, has tripled.
Amgen Inc.’s disclosure Wednesday of a large stake in Neumora Therapeutics Inc. indicates that the value of its investment in the biopharmaceutical company, which recently went public, has tripled.
The 13D said Amgen’s investment started with the purchase of preferred shares for about $110 million and the grant of certain exclusive license rights, which was announced by the company’s in October 2021. That means Amgen has spent about $140 million to acquire its Neumora stake. Based on Tuesday’s closing price $11.71 for Neumora’s stock, Amgen’s stake was worth $414.2 million, or 195.8% more than what the company spent.The stock closed its first day of trading on Sept. 15 at $16.25, or 4.4% below its IPO price. It closed as low as $10.13, or 40.4% below the IPO price, on Sept. 20 before bouncing over the past four sessions.
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