Axovant Sciences (AXON) IPO Opens Up 40%

The IPO for Axovant Sciences Ltd. (NYSE: AXON) opened for trading at $20.93 today after pricing 21 million common shares at a price of $15 each, which was the high end of its expected $13 - $15 range.

All of the common shares are being offered by Axovant Sciences Ltd. In addition, Axovant Sciences Ltd. has granted the underwriters a 30-day option to purchase up to 3,150,000 additional common shares.

Jefferies LLC, Evercore Group L.L.C. and RBC Capital Markets LLC are acting as joint book-running managers for the offering. JMP Securities LLC is acting as lead manager, and Robert W. Baird & Co. Incorporated is acting as co-manager for the offering.

Axovant Sciences Ltd. is a clinical-stage biopharmaceutical company focused on the acquisition, development and commercialization of novel therapeutics for the treatment of neurodegenerative disorders. Axovant intends to develop a pipeline of product candidates to comprehensively address the cognitive, behavioral and functional components of dementia, a condition characterized by significant decline in mental capacity and impaired daily function.

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