Stealth Bio prices $78M IPO at bottom end of range

Stealth BioTherapeutics Corp. (NASDAQ:MITO) closed down $0.10 to $11.90 Friday after raising $78 million in its IPO. Late Thursday, the company priced more ADSs than anticipated at the bottom end of its proposed range.

The company sold 6.5 million ADSs at $12; it proposed last week to sell 6.2 million at $12-$14. Each ADS represents 12 ordinary shares. The offering price values Stealth at nearly $400 million...