01:20 PM EDT, 06/28/2024 (MT Newswires) -- Alumis (ALMS) shares fell in their trading debut on Nasdaq Friday after the clinical-stage biopharmaceutical company priced its initial public offering of about 13.1 million shares at $16 per share.

The stock was down about 24% at $12.08 in recent trading after opening at $13.50.

Alumis is offering its underwriters, including Morgan Stanley and Leerink Partners, an option to buy up to almost 2 million additional shares. It also agreed to sell 2.5 million shares to one of its existing investors through a concurrent private placement.

Price: 12.08, Change: -3.93, Percent Change: -24.53