The Hot IPO
On March 26, Versartis (VSAR) completed its initial public offering as it sold 6.9 million shares of its common stock at an offering price of $21 per share. The endocrine-focused biopharmaceutical company raised approximately $132.4 million after deducting discounts to the underwriter along with commissions and estimated expenses related to the offering. The market responded well to the latest biotechnology offering. As of the closing price of $30.05 on March 31, Versartis traded at a 43% premium to its IPO offering price.
Company And Market Overview
Versartis is a developing biopharmaceutical company looking to address the treatment of growth hormone deficiency [GHD]. The company is largely focused on a single product candidate found in VRS-317....
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