Renaissance Capital logo

The new Five Below: Kaleido Biosciences, a microbiome biotech, prices IPO at $15, $5 below the range

February 28, 2019

Kaleido Biosciences, an early-stage biotech developing oral microbiome therapies, raised $75 million by offering 5 million shares at $15, below the range of $20 to $22. The company had originally planned to raise $100 million by offering 4.8 million shares. Kaleido Biosciences plans to list on the Nasdaq under the symbol KLDO. Goldman Sachs, J.P. Morgan and Morgan Stanley acted as lead managers on the deal.