Renaissance Capital logo

Axsome Therapeutics prices IPO below the range at $9; finishes Thursday down 3%

November 19, 2015

Axsome Therapeutics, which is developing novel therapies for pain and CNS disorders utilizing the 505(b)(2) pathway, raised $51 million on Thursday by offering 5.67 million shares at $9.

At $9 per share, the biotech went public at a market cap of $180 million. Axsome had originally planned to raise $51 million by offering 4.25 million shares at $11 to $13, with a proposed market cap of $224 million.

Axsome Therapeutics listed list on the Nasdaq under the symbol AXSM. Ladenburg Thalmann & Co. acted as a lead manager on the deal.