Evommune surges in NYSE debut after $150 million IPO

Drug developer Evommune's EVMN.N shares jump as much as 26.1% in their NYSE debut

Stock opened at $17.25 apiece vs $16 IPO price; last up 19.8% at $19.18

EVMN sold ~9.4 million shares within the marketed range of $15 and $17 apiece to raise $150 million

Palo Alto, California-based EVMN is developing therapies to treat chronic inflammatory diseases such as eczema and hives

Among its drug pipeline, EVMN currently has two experimental treatments, EVO756 and EVO301, in mid-stage trials

EVMN is the third notable U.S. biotech to go public since September, as drug developer IPOs make a comeback after a months-long freeze

Morgan Stanley, Leerink Partners, Evercore ISI, and Cantor were joint book-running managers for the offering