Kala Pharmaceuticals Inc. said Thursday it has priced its initial public offering at $15 a share. The company sold 6 million shares to raise $90 million in a deal underwritten by J.P. Morgan, BofA Merrill Lynch and Wells Fargo Securities, with Wedbush PacGrow acting as co-manager. The company is developing treatments for inflammation and pain after eye surgery and for temporary relief of signs and symptoms of dry eye disease, with both currently in late-stage trials. The stock will start trading Thursday on the Nasdaq under the ticker symbol “KALA.”
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News