Therapeutics Acquisition Corp. Jumps 22% in IPO Debut

Shares of Therapeutics Acquisition Corp. (NASDAQ: TXAC) flew out of the gates today, rising 22% on its first day on the market. Therapeutics Acquisition Corp. is a special purpose acquisition company (SPAC), sometimes referred to as a "blank check" company because investors are basically giving management a blank check to go out and buy something. In this case, chairman and CEO Peter Kolchinsky and CFO Matthew Hammond will look to combine Therapeutics Acquisition Corp. with one or more businesses in the healthcare industry.