Hyperion raises $50M in IPO

Hyperion Therapeutics Inc. (NASDAQ:HPTX) raised $50 million through the sale of 5 million shares at $10 in an IPO. The price values the company at about $153.7 million. Leerink; Cowen; and Needham were underwriters. Hyperion was up $0.11 to $10.11 in its first day of trading on Thursday.

Earlier this month, Hyperion said it planned to sell 4.2 million shares at $11-$13 per share. At the $12 mid-point of the original range and 4.2 million shares, Hyperion would have raised $50 million and been valued at $174.4 million. ...