DUBLIN Nabriva Therapeutics AG grossed $92.25 million in a revamped IPO on Nasdaq.
The appetite for the stock was evident but mixed. The Vienna-based anti-infectives developer priced 9 million American Depositary Shares (ADSs) at $10.25 million each, having originally planned to sell 6 million ADSs for between $15 and $17 each. To add insult to injury, the final offer price suffered a last-minute $0.25 discount from the $10.50 the company had initially set out in its registration statement.
The stock, which began trading Friday under the ticker symbol NBRV, opened at a healthy $11.39, suggesting the final adjustment was unnecessary. The stock closed Friday at $13.24, up $2.99 or 29.2 percent.
The company will net around $79.5 million from the transaction to fund its pipeline of pleuromutilin