NuPathe significantly reduces proposed IPO deal size

NuPathe, a specialty pharmaceutical company that has developed a patch for migraine treatment, significantly reduced the proposed price for its upcoming IPO from a range of $14-$16 to $10 per share. The company now expects to raise $50 million in gross proceeds from the offering, as opposed to $75 million as originally planned, and existing shareholders have indicated an interest in participating in the offering by purchasing an aggregate $13 million in shares of common stock at the IPO price. Leerink Swann and Lazard Capital Markets are expected to price the IPO on Thursday evening, and the stock is expected to commence trading on Friday under the ticker symbol "PATH".