ARTICLE | Financial News
OptiNose rises after pricing $120M IPO
October 13, 2017 8:31 PM UTC
OptiNose Inc. (NASDAQ:OPTN) gained $3 (19%) to $19 in its first day of trading Friday after it raised $120 million through the sale of 7.5 million shares at $16 in an IPO underwritten by Jefferies, Piper Jaffray, BMO Capital Markets and RBC Capital Markets. The price was at the midpoint of OptiNose's proposed $15-$17 range, and the company sold more than the proposed 6.3 million shares.
In September, FDA approved OptiNose's Xhance fluticasone propionate nasal spray to treat nasal polyps. The company is now aiming to use its patented Exhalation Delivery Systems (EDS) in a "nose-to-brain" application to treat neurologic orphan diseases...
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