KemPharm prices IPO at $11, below the range

KemPharm, a late-stage biotech developing abuse-deterrent versions of widely-prescribed pain medications, raised $56 million by offering 5.1 million shares at $11, below the range of $12 to $14. The company originally planned to offer 4.0 million shares. KemPharm plans to list on the NASDAQ under the symbol KMPH. KemPharm initially filed confidentially on 12/19/2014. Cowen & Company and RBC Capital Markets acted as lead managers on the deal.