Health Firms Odyssey, Mobia Fall After $454 Million IPO Haul (1)

A pair of healthcare companies ended their trading debuts lower after raising a combined $454 million in their initial public offerings.

Odyssey Therapeutics Inc. shares sank 8.8% after the biopharmaceutical company raised $304 million in an upsized US IPO and private placement.

The Boston-based company’s shares closed at $16.42 on Friday in New York, below its IPO price of $18 apiece. The IPO ended significantly oversubscribed, people familiar with the matter said earlier.

The trading gives the company a market value of about $775.9 million, based on the outstanding shares.

Odyssey sold 15.5 million shares for $18 each, according ...