UPDATE 1-BioAge valued at $758 mln in debut as investors bet on weight-loss drug frenzy

Reuters09-27

(Adds details throughout)

Sept 26 (Reuters) - Shares of BioAge Labs opened 25% above their initial public offering price on Thursday in a strong debut for the weight-loss drug developer against the backdrop of surging investor enthusiasm.

The company's shares opened at $22.50 in their Nasdaq debut, compared with the IPO price of $18.

Soaring demand for weight-loss drugs, expected to be a $150 billion market by early 2030s, has attracted more investors toward companies tapping into the lucrative market.

The debut valued BioAge at $757.5 million, compared to the $394.3 million it fetched after its February funding round, according to PitchBook data.

BioAge sold 11 million shares, 46.7% more than originally planned, to raise $198 million after twice upsizing its IPO. The offer was priced at the midpoint of the marketed range of $17 and $19.

(Reporting by Arasu Kannagi Basil, Prakhar Srivastava, Puyaan Singh and Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila)

((ArasuKannagi.Basil@thomsonreuters.com;))

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