Nabriva rises after IPO haircut

Nabriva Therapeutics AG (NASDAQ:NBRV) gained $2.99 (29%) to $13.24 in its first day of trading Friday after raising $92.3 million through the sale of 9 million ADSs at $10.25. Each ADS is worth 1/10 of a common share. The IPO price valued Nabriva at $203 million. Underwriters were Leerink; RBC Capital Markets; Needham; and Wedbush PacGrow.

Nabriva proposed in June to raise up to $92 million. Last week, it said it hoped to sell 6 million ADSs at $15-$17. At $16, it would have raised $96 million and been valued at $268 million. ...