ARTICLE | Financial News

Dermira raises $125 million in upsized IPO

October 4, 2014 1:58 AM UTC

Dermira Inc. (NASDAQ:DERM) shed $0.45 to $15.55 in its first day of trading after the dermatology company raised $125 million through the sale of 7.8 million shares at $16 in an IPO on NASDAQ. Concurrently, partner UCB Group (Euronext:UCB) purchased $7.5 million in stock at the offering price.

The IPO price values the company at $309.2 million, including the shares issued in the private placement. Citigroup; Leerink; Guggenheim Securities; and Needham are underwriters. ...