BUZZ — City Therapeutics surges in Nasdaq debut after upsized $200 million IPO

* Drug developer City Therapeutics' shares surge 25% to $22.50 in Nasdaq debut after $200 million US IPO * Stock opened at $23 apiece vs $18 IPO price * Cambridge, Massachusetts-based CTY sold 11.1 million shares in upsized IPO * Biotech continues to be a bright spot in IPO market as choppy conditions keep a lid on activity from other sectors * Fall IPO market has also been hit by a series of high-profile postponements as investors become selective * "It's the latest (disappointment) in a gradual multi-year recovery in the IPO market, marked by a few mega IPOs. We're still waiting for the flooding to open," says Matt ​Kennedy, senior ‍strategist at Renaissance Capital, a provider of IPO-focused research and ETFs * "More and more companies are prepping 2027 listings, but as we've seen, when an IPO is more about liquidity than capital, companies can try to wait for an ideal market" (Reporting by Arasu Kannagi Basil in Bengaluru) ((mailto:ArasuKannagi.Basil@thomsonreuters.com;)