Zosano raises $49.5 million in IPO

Zosano Pharma Corp. (NASDAQ:ZSAN) gained a penny to $11.01 in its first day of trading after it raised $49.5 million in an IPO on NASDAQ through the sale of 4.5 million shares at $11. The price valued Zosano at $130 million, including shares purchased by Eli Lilly and Co. (NYSE:LLY) in a concurrent $15 million private placement at the IPO price. Ladenburg Thalmann and Roth Capital Partners are underwriters. Zosano initially proposed to raise up to $65 million in its offering last June. ...