BioCentury
ARTICLE | Financial News

Ra shares unchanged after $91.6M IPO

October 26, 2016 7:00 AM UTC

Peptide therapeutics company Ra Pharmaceuticals Inc. (NASDAQ:RARX) closed unchanged Wednesday after it raised $91.6 million through the sale of 7 million shares at $13 in an IPO underwritten by Credit Suisse, Jefferies, BMO Capital Markets and SunTrust Robinson Humphrey. The price valued Ra at $279.4 million.

Last week, Ra said it hoped to sell 5.8 million shares at $12-$14. At the $13 midpoint, it would have raised $75.4 million and been valued at $263.1 million. The company filed last month to raise up to $86.3 million. ...