Supernus Pharmaceuticals (SUPN) IPO Traders Slightly Higher After Rocky Pricing

May 1, 2012 3:58 PM EDT
The IPO for Supernus Pharmaceuticals, Inc. (Nasdaq: SUPN) got off to a better than expected start Tuesday after a rocking pricing. After pricing 10,000,000 shares $5.00 per share the stock is currently trading at $5.38. The company was expecting to sell 11,000,000 shares and was originally expecting a pricing in the $12.00-$14.00 range.

Citigroup and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Cowen and Company, LLC and Stifel Nicolaus Weisel are acting as co-managers.

Supernus Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on developing and commercializing products for the treatment of central nervous system, or CNS, diseases. The company is developing several product candidates in neurology and psychiatry to address large market opportunities in epilepsy and ADHD including ADHD patients with impulsive aggression. These product candidates include SPN-538 (extended-release topiramate) and SPN-804 (extended-release oxcarbazepine) for epilepsy, SPN-810 for impulsive aggression in ADHD and SPN-812 for ADHD.

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