The company finalized the sale of nearly 9.4 million shares late Thursday, setting the price at $15 each. This valuation sits at the lower bound of the anticipated $15 to $17 range previously communicated to the market. By capturing this capital, Aspen Neuroscience aims to advance its pipeline of cell therapies while navigating a cautious investor landscape for new biotech entrants.
Aspen Neuroscience Prices IPO at $15 Per Share
San Diego-based Aspen Neuroscience enters the public market today, securing $140.6 million after pricing its initial public offering at the bottom of its projected range. The clinical-stage biotechnology firm debuts on the Nasdaq Global Select Market under the ticker symbol ASPE following a modest reception from investors.
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