Flex Pharm (FLKS) IPO Opens Up 19%

Today's IPO for Flex Pharm (NASDAQ: FLKS) opened for trading at $19 after pricing 5,400,000 shares of common stock at a public offering price of $16 per share, above the expected $12-$14 range.

Jefferies LLC and Piper Jaffray & Co. are acting as joint book-running managers. JMP Securities LLC is acting as lead manager and Cantor Fitzgerald & Co. and Roth Capital Partners, LLC are acting as co-managers in the proposed offering.

Flex Pharma, Inc. is a biotechnology company that is developing innovative and proprietary treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. In three randomized, blinded, placebo-controlled, cross-over studies, Flex Pharma's proprietary treatment has shown a statistically significant reduction in the intensity of muscle cramps in healthy normal volunteers. In the second quarter of 2015, the Company intends to initiate at least one human proof-of-concept study of its proprietary treatment for individuals with nocturnal leg cramps.

Flex Pharma was founded by National Academy of Science members Rod MacKinnon, M.D. (2003 Nobel Laureate), and Bruce Bean, Ph.D., recognized leaders in the fields of ion channels and neurobiology, along with Chairman and Chief Executive Officer Christoph Westphal, M.D., Ph.D.

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