Inotek Pharma (ITEK) IPO Opens Modestly Higher

Today's IPO for Inotek Pharma (Nasdaq: ITEK) opened for trading at $6.10 after pricing 6,667,000 shares of its common stock at a price to the public of $6.00 per share.

Concurrently with this offering of common stock, the Company is also making a public offering of $20.0 million aggregate principal amount of its 5.0% Convertible Senior Notes due 2020 (the “Notes”) in an underwritten offering pursuant to a separate prospectus. The Company has granted the underwriters a 30-day option to purchase up to an additional $3.0 million principal amount of Notes solely to cover over-allotments, if any.

Cowen and Company, LLC and Piper Jaffray & Co. are acting as joint book-running managers of the common stock offering and Canaccord Genuity Inc. and Nomura Securities International, Inc. are acting as co-managers of the common stock offering.

The Company is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapies for glaucoma. The Company’s lead product candidate, trabodenoson, is a first-in-class selective adenosine mimetic that it rationally designed to lower intraocular pressure by restoring the eye’s natural pressure control mechanism. The Company’s product pipeline includes trabodenoson monotherapy delivered in an eye drop formulation, as well as a fixed-dose combination, or FDC, of trabodenoson with latanoprost given once-daily. Additionally, the Company is evaluating the potential for trabodenoson to directly target optic neuropathies.

You May Also Be Interested In

• SpaceX prices historic IPO at $135/share in largest ever new listing
• Sunshine Silver completes $310.5 million IPO on NYSE
• Griffon completes joint venture with ONCAP combining AMES and Venanpri Tools