Biopharma IPO alert: Versartis, Inc., (Nasdaq:VSAR) Soars
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New York, NY - Point Roberts, WA - March 21, 2014 (Investorideas.com Newswire) Investorideas.com, a global financial and business news source covering leading sectors including biotech issues an IPO alert for Versartis, Inc., (Nasdaq:VSAR) an endocrine-focused biopharmaceutical company. The stock is currently trading at $34.65 Up 13.65(65.00%) as of 1:25PM EDT.
Versartis, Inc., (Nasdaq:VSAR) priced its initial public offering of 6,000,000 shares of its common stock at a public offering price of $21 per share. In addition, Versartis has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock from Versartis at the initial public offering price. The offering is expected to close on March 26, 2014 subject to customary closing conditions.
Morgan Stanley and Citigroup are acting as joint book-running managers for the proposed offering. Cowen & Company is acting as lead manager and Canaccord Genuity is acting as co-manager.
About Versartis, Inc.
Versartis, Inc. is an endocrine-focused biopharmaceutical company initially developing VRS-317, a novel, long-acting form of recombinant human growth hormone, for the treatment of growth hormone deficiency (GHD). VRS-317 is intended to reduce the burden of daily injection therapy by requiring significantly fewer injections, potentially improving compliance and therefore treatment outcomes. The company is currently completing a Phase 2a clinical trial of VRS-317 in children with GHD.
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