Biopharma company Alector prices IPO at $19, midpoint of price range
Biopharmaceutical company Alector Inc. priced its initial public offering at $19 a share, the midpoint of its $18 to $20 range, according to Nasdaq. The company sold 9.25 million shares to raise $175.8 million. Shares will start trading on Nasdaq later Thursday, under the ticker symbol "ALEC". Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.