The company’s shares closed at $26 each on Friday, above its IPO price of $16 apiece. The Waltham, Massachusetts-based firm had marketed 33.3 million shares for $14 to $16 each.
The trading gives Kailera a market value of almost $3.1 billion based on the outstanding shares listed in its filings.
Kailera joins a crowded field of drugmakers jockeying to win a slice of what could be a $200 billion obesity market by 2030.