By Chelsea Naso (June 17, 2015, 8:28 PM EDT) -- Venture capital-backed Nivalis Therapeutics Inc. roared onto the market Wednesday after topping expectations for its initial public offering, making it the latest life sciences company to spark investor interest as a robust acquisition environment adds fuel to the red-hot IPO market.
Nivalis, which is developing a treatment for cystic fibrosis, raised $77 million after pricing 5.5 million shares — 1 million more than expected — at $14 each, the midpoint of its targeted range, the company said. Shares opened on the Nasdaq under the symbol NVLS Wednesday, kicking off trading at $16.50 each before closing at a more modest $14.92, representing a...
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