RESEARCH TRIANGLE PARK — Liquidia Technologies, the biopharmaceutical company developing therapeutics using its PRINT technology, has closed its initial public offering of stock at $11 a share with gross proceeds of $50 million before underwriting discounts and commissions.
The company began trading on the Nasdaq exchange July 26 under the symbol LQDA.
Underwriters have a 30-day option to buy up to 681,818 shares of common stock at the IPO price, less the underwriter’s discount, which could amount to an additional $7.5 million in proceeds.
The funds are slated to fuel the company’s Phase III trial of its LIQ861 treatment for pulmonary arterial hypertension (PAH). PAH, caused by narrowing of the arteries that carry blood from the heart to the lungs, is a life-threatening disease that gets worse over time and can make ordinary tasks such as walking up stairs difficult for survivors.
The company’s stock was selling at $11 a share in Tuesday afternoon trading.
Previously on WRAL Techwire:
Liquidia plans to use $50M from IPO to fund drug development
Triangle’s Liquidia Technologies goes public, raises $50 million
