Forward Pharma prices IPO at the $21 midpoint

Forward Pharma, which is developing an alternative to and challenging IP of Biogen Idec's Tecfidera for MS, raised $221 million by offering 10.5 million shares at $21, the midpoint of the range of $20-$22. Forward Pharma plans to list on the NASDAQ under the symbol FWP. Leerink Partners, Jefferies & Co. and RBC Capital Markets acted as lead managers on the deal.