Novo-backed congenital adrenal hyperplasia drug developer Spruce Biosciences has added approximately $14m to close its initial public offering.
Spruce Biosciences, the US-based endocrine disorder drug developer backed by pharmaceutical firm Novo, closed its initial public offering at approximately $104m yesterday.
The company raised an initial $90m when it floated on Friday last week having priced 6 million shares at $15.00 each. Its share price closed at $17.85 yesterday and the IPO’s underwriters have taken up the option to acquire a further 900,000 shares at the same price.
The proceeds for the offering will go to advancing…
