Menlo spikes in first trading day after $119M IPO

Menlo Therapeutics Inc. (NASDAQ:MNLO) jumped $11.71 (69%) to $28.71 Thursday after it raised $119 million through the sale of 7 million shares at $17 in an IPO underwritten by Jefferies, Piper Jaffray, Guggenheim Securities and JMP Securities. The IPO price valued the dermatology company at $372.8 million.

Menlo filed in December to raise up to $98 million. In an amendment Tuesday, the company said it hoped to sell 6.5 million shares at $16-$17...