Markets

Axsome Therapeutics prices IPO below the range at $9; finishes Thursday down 3%

A generic image of a calculator and a pen
Credit: Shutterstock photo

Axsome Therapeutics, which is developing novel therapies for pain and CNS disorders utilizing the 505(b)(2) pathway, raised $51 million on Thursday by offering 5.67 million shares at $9.

At $9 per share, the biotech went public at a market cap of $180 million. Axsome had originally planned to raise $51 million by offering 4.25 million shares at $11 to $13, with a proposed market cap of $224 million.

Axsome Therapeutics listed list on the Nasdaq under the symbol AXSM. Ladenburg Thalmann & Co. acted as a lead manager on the deal.

The article Axsome Therapeutics prices IPO below the range at $9; finishes Thursday down 3% originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

AXSM

Other Topics

IPOs

Latest Markets Videos