The pruritus treatment developer, which counts Novo and Merck & Co as shareholders, has closed its initial public offering, its shares having almost doubled in price.
Menlo Therapeutics, a skin condition treatment developer backed by pharmaceutical companies Novo and Merck & Co, closed its initial public offering yesterday having secured approximately $137m.
The company initially issued 7 million shares, up from 6.5 million, on the Nasdaq Global Select Market priced at the top of its $16 to $17 range to raise $119m. Menlo’s shares opened at $20.50 on the first day of trading last week and closed at $33.39 yesterday.
Joint book running managers Jefferies,…
