Nexvet's $40M IPO Pricing Adds To Rough Day For Biotechs
Law360, New York (February 5, 2015, 3:19 PM EST) -- Animal medicine developer Nexvet Biopharma PLC priced an initial public offering below range Thursday, raising about $40 million, and watched shares slide further in debut trading, the latest in a flurry of life science IPOs on a rocky day that saw another company postpone plans.
Ireland-based Nexvet priced 4 million shares at $10 on the Nasdaq, down from an earlier range of $13 to $16. The shares subsequently dipped $1.25, or 12.5 percent, to $8.75 in debut trading Thursday afternoon under symbol NVET.
The choppy debut came the same day that France-based Advanced Accelerator Applications, a radiopharmaceutical diagnostics company developing its...
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