BioCentury
ARTICLE | Financial News

Conatus raises $66 million in IPO

July 26, 2013 1:23 AM UTC

Conatus Pharmaceuticals Inc. (NASDAQ:CNAT) was off $1.50 (14%) to $9.50 in its first day of trading on Thursday after raising $66 million through the sale of 6 million shares at $11 in a bumped-up IPO. The $11 price valued the company at $171.3 million. Earlier this month, Conatus said it planned to sell 5 million shares at $10-$12. Stifel; Piper Jaffray; JMP Securities; and SunTrust are underwriters. ...