Praxis Precision Medicines, a Phase 2 biotech developing therapies for CNS disorders using genetic insights, raised $190 million by offering 10 million shares at $19, above the range of $17 to $18.
The company originally filed to offer 7.4 million shares at a range of $16 to $18, before increasing the proposed share offering and narrowing the range toward the high end in a filing on Thursday.
The company is targeting depression, epilepsy, movement disorders and pain syndromes.
Praxis Precision Medicines plans to list on the Nasdaq under the symbol PRAX. Cowen, Evercore ISI and Piper Sandler acted as joint bookrunners on the deal.
The article CNS biotech Praxis Precision Medicines prices upsized IPO above the range at $19 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's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts 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.