Aspen Neuroscience falls in Nasdaq debut after $141 million US IPO
ASPE•Aspen Neuroscience shares fell 6% in their Nasdaq debut after the company raised $141 million in an IPO. The stock opened at $14.70, below its $15 IPO price.
1. Shares fall in debut
The San Diego-based drug developer sold 9.38 million shares at $15 apiece, the low end of its marketed range of $15 to $17. Its lead candidate, sasineprocel, is in an early- to mid-stage trial to treat Parkinson's disease. IPOX Associate Lukas Muehlbauer said successful biotech IPOs in recent years have skewed toward larger companies and firms with assets beyond pre-clinical development.
