UPDATE: Viela Bio jumps 27% in trading debut

Shares of Viela Bio Inc. rose 27% in their trading debut Thursday, after the company sold 7.9 million shares in its initial public offering, priced at $19 each, the low end of its range. The company, a clinical-stage biotech, specializes in treatments for autoimmune and severe inflammatory diseases. Goldman Sachs, Morgan Stanley and Cowen were lead underwriters on the deal with Guggenheim acting as co-manager. The stock is trading on Nasdaq, under the ticker symbol "VIE." Proceeds of the deal will be used to fund clinical trials and for working capital and other general corporate purposes.

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