Lycia Therapeutics is exploding higher in its first day of trading on the Nasdaq Global Select Market following the successful pricing of its upsized initial public offering. The biotechnology firm raised $317.5 million by selling 17.64 million shares at $18 per share, which was at the top of its marketed range. The offering saw strong demand, with the company selling approximately 3 million more shares than originally anticipated to reach a market capitalization of $1.6 billion.