Seaport Therapeutics Said to Raise $255 Million in IPO

Seaport Therapeutics Inc., a clinical-stage biotechnology company focused on antidepressants and anxiety drugs, raised nearly $255 million in an upsized US initial public offering that priced at the top of its marketed range, according to people familiar with the matter.

The neuro-psychiatry company sold 14.16 million shares at $18 each, the people said, asking not to be identified as the information isn’t public. The biotech firm had offered 11.8 million shares for $16 to $18 each, its filings show.