KemPharm raises $56 million in IPO

KemPharm Inc. (NASDAQ: KMPH) gained $0.20 to $11.20 in its first day of trading after it raised $56 million in an IPO through the sale of 5.1 million shares at $11. The IPO price values KemPharm at $148.1 million. Cowen; RBC Capital Markets; Canaccord; and Oppenheimer were underwriters.

KemPharm originally filed to raise up to $57.5 million. Earlier this month, it said it would offer 4 million shares at $12-$14. At $11, it would have raised $44 million. ...