California-based biotech BioAge Labs will have its initial public offering of stock. The company is developing Azelaprag, a weight loss drug.

(Reuters) -BioAge Labs is eyeing a valuation of up to $639.7 million in its upsized initial public offering in the United States, the obesity drug developer said on Wednesday, in a sign of strong demand from investors.

BioAge Labs has completed its upsized initial public offering (IPO), raising $198 million after increasing the number of shares on offer by 40%.