Axovant Draws $315 Million In Upsize IPO

Axovant Sciences said its initial public offering raised $315 million. Because of this, shares of the dementia drug developer nearly doubled. Axovant expanded its offering to 21 million shares and said the offering priced at $15 a share. The stock climbed $14.90, or 99.3 percent, to end its first trading day at $29.90. It peaked at $31.17. The offering values Axovant at approximately $1.4 billion. Axovant is operated by Roivant Sciences Ltd., which invests in biotech companies with late-stage experimental drugs. Roivant owns about 80 percent of Axovant's shares.

Axovant's main drug . . .