Foamix trades up after $40.2M IPO

Israeli dermatology play Foamix Pharmaceuticals Ltd. (NASDAQ:FOMX) was up $0.22 to $6.22 in its first day of trading Thursday after raising $40.2 million through the sale of 6.7 million shares at $6 in an IPO on NASDAQ. The price valued the company at $128.9 million. Barclays; Cowen; Oppenheimer; and Maxim Group were underwriters.

Foamix originally filed in August to raise up to $74.8 million. Earlier this month, Foamix proposed to offer 5.9 million shares at $10-$12. At $11, the company would have raised $65 million and been valued at $218.8 million. ...