11:40 AM EDT, 10/30/2024 (MT Newswires) -- Gelteq ( GELS ) said Wednesday it has closed its initial public offering of 1.3 million shares at $4 apiece for gross proceeds of $5.2 million.

The shares debuted on Nasdaq on Tuesday.

Shares of the biotechnology company fell more than 17% in recent trading.

Price: 2.43, Change: -0.51, Percent Change: -17.35