Edge Therapeutics (EDGE) IPO Opens Modestly Higher

Today's IPO for Edge Therapeutics, Inc. (Nasdaq: EDGE) opened for trading at $11.60 after pricing 7,315,151 shares of its common stock at a public offering price of $11.00 per share, below the expected $14-$16 range. The IPO size was raised from 5.67 million.

Leerink Partners and Credit Suisse are acting as joint book-running managers for the offering. Guggenheim Securities and JMP Securities are acting as co-managers.

Edge Therapeutics, Inc. is a clinical-stage biotechnology company that discovers, develops and seeks to commercialize novel, hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening neurological conditions. EG-1962, our lead product candidate, has the potential to fundamentally improve patient outcomes and transform the management of aneurysmal subarachnoid hemorrhage, or aSAH, which is bleeding around the brain due to a ruptured brain aneurysm. EG-1964, our second product candidate, is being evaluated as a potential prophylactic treatment in the management of chronic subdural hematoma, to prevent recurrent bleeding on the surface of the brain.

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