Biome Australia (ASX:BIO) debuted on the ASX today.

Biome Australia Ltd (ASX:BIO) has debuted on the Australian stock exchange today.

Following an IPO at $0.20/share raising $8 million, shares in Australian-based biotherapeutics company tanked 40% to close its debut session at $0.120/share.

An increase in listing price is a vote of confidence from the market about the future prospects of the company.

A decrease in the listing price can be interpreted in a number of ways, including whether the IPO was accurately priced.