Sun Pharmaceutical and Lundbeck scored exits in an $89.6m initial public offering by the subcutaneous heart failure therapy developer.
SCPharmaceuticals, a US-based subcutaneous drug developer backed by pharmaceutical companies Sun Pharmaceutical Industries and Lundbeck, has raised $89.6m in an initial public offering.
The offering consisted of 6.4 million shares issued on the Nasdaq Global Select Market priced at $14.00 each, on the lower end of its $14 to $16 range. The company floated on Friday and the shares were at $14.15 at close of trading yesterday, giving it a market cap of about $249m.
SCPharmaceuticals is developing subcutaneously-administered…
