NeuroDerm takes haircut, raises $45M in IPO

Neurology play NeuroDerm Ltd.(NASDAQ:NDRM) dipped $0.85 to $9.15 on Friday in its first day of trading after it raised $45 million through the sale of 4.5 million shares at $10 in its IPO on NASDAQ. The price valued NeuroDerm at $164 million. Jefferies; Cowen; Oppenheimer; and Roth Capital Partners were underwriters. Earlier this month, NeuroDerm had proposed to sell 4.5 million shares at $13-$16. At $14.50, it would have raised $65.3 million and been valued at $237.9 million. ...