Vaccitech, startup behind Oxford COVID-19 vaccine tech, falls 20% in Nasdaq debut

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(Reuters) -American depositary shares of Vaccitech fell nearly 20% in their Nasdaq debut on Friday, giving the co-inventor of the COVID-19 vaccine developed by AstraZeneca Plc and Oxford University a market value of about $464 million.
The biotech firm's shares opened at $13.62, below the initial public offering (IPO) price of $17 apiece for 6.5 million of its American depositary shares.
The UK-based company was started by two Oxford University scientists and spun out of the university's Jenner Institute in 2016. Its co-founder Sarah Gilbert was among the scientists who led AstraZeneca's COVID-19 vaccine development efforts.
Vaccitech said it planned to use the proceeds from the IPO to fund the development of its COVID-19 vaccine technology for treatments targeting prostate cancer, hepatitis B HPV and non-small cell lung cancer.
The company's vaccine ...


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