In a sign of weak demand, Novacea priced 6.25 million shares at $6.50, a sizeable 46% discount to its originally proposed $11 to $13 range. Bear Stearns, Cowen & Co., Pacific Growth and HSBC Corp. were the underwriters on the deal. The stock traded flat in its debut yesterday and can be found on the NASDAQ under the symbol "NOVC."
