Tocagen rises after $85M IPO

Tocagen Inc. (NASDAQ:TOCA) climbed $2.45 (25%) to $12.45 in its first day of trading Thursday after it raised $85 million through the sale of 8.5 million shares at $10 in an IPO underwritten by Leerink, Evercore and Stifel. The price valued Tocagen at $184 million.

Earlier this month, Tocagen said it hoped to sell 7.3 million shares at $10-$12. At the $11 midpoint, it would have raised $79.8 million and been valued at $188.6 million...