Copenhagen, Denmark-based biotech company Ascendis Pharma (Nasdaq: ASND) raised $108m for its IPO after pricing its 6 million shares at $18 per share.
The stock began trading Wednesday on the NASDAQ under the ticker symbol “ASND”. The IPO is expected to close on or about February 2, 2015, subject to satisfaction of customary closing conditions.
In addition, Ascendis has granted the underwriters a 30-day option to purchase up to an additional 900k shares.
BofA Merrill Lynch and Leerink Partners are serving as the lead underwriters while Wells Fargo Securities is acting as co-manager.
Backed by Sofinnova Ventures, OrbiMed, Vivo Capital, Venrock, RA Capital Management and Janus Capital Management, Ascendis Pharma is a clinical stage biopharmaceutical company applying its TransCon technology to develop a pipeline of long-acting prodrug therapies to address large markets with significant unmet medical needs.