Updated May. 4, 2014 at 5:48 a.m.

Premium Lock A faltering IPO for Scynexis: Shares don't 'pop' but shrink 10%

Published: 2014-05-02 10:30:00
Updated: 2014-05-04 05:48:34

Scynexis

Scynexis has successfullly priced its shares at $10 for a $62 million IPO, and trading began today. There was no "pop," however. But the IPO occured only after Scynexis management executed a reverse stock split, substantially lowered the options price for some shares, and struck a new credit deal with Sanofi. Trading did not begin Thursday, however....

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