Contrasting fortunes for IPO companies Fractyl and Alto
Investors have responded differently to the introduction of two US firms to the public markets.
Fractyl Health (Nasdaq: GUTS), a metabolic diseases company, hoped to raise $110 million and earn a market capitalization of $714.1 million in its initial public offering (IPO). The company is developing procedural and gene therapies for type 2 diabetes and obesity.
But shares in the company fell by 8.3% on their market debut on Friday, giving the firm an underwhelming market capitalization of $654.6 million.
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