Evolus slips after $60M IPO

Evolus Inc. (NASDAQ:EOLS) dipped $0.40 to $11.60 in its first day of trading Thursday after raising $60 million through the sale of 5 million shares at $12 in an IPO underwritten by Cantor Fitzgerald, Mizuho, SunTrust Robinson Humphrey and JMP Securities. The price was at the low point of Evolus' proposed $12-$14 range, and valued the company at $283.1 million.

Evolus is developing prabotulinumtoxinA (DWP-450), an injectable 900 kilodalton (kDa) botulinum toxin type A complex, to treat adults with glabellar lines (frown lines between the eyebrows). The therapy, which met the primary endpoints in three Phase III trials, is under FDA and EMA review. ...