Oasmia Pharmaceutical AB (OASM) IPO Opens, Trades Modestly Lower

Today's IPO for Oasmia Pharmaceutical AB (NASDAQ: OASM) opened for trading earlier at $4 after pricing 2.3 million ADSs at $4.06, below the expected $4.70-$6.70 range.

The offering was brought by Rodman & Renshaw, Joseph Gunnar.

Oasmia Pharmaceutical AB is a pharmaceutical company focused on innovative treatments within human and animal oncology. Our product and product candidates utilize a proprietary, nanoparticle formulation technology that is designed to facilitate the administration of intravenously-delivered active pharmaceutical ingredients, without the addition of toxic solvents. We believe our formulation may result in improved safety, efficacy and ease of administration over existing drugs. Initial development and commercialization efforts are focused on creating novel formulations of well-established chemotherapeutic drugs that can be used for the treatment of cancer in both humans and companion animals. They have four human oncology product candidates in pre-clinical and/or clinical development, and two veterinary oncology product candidates. They disclosed top-line Phase III data for lead human oncology product candidate in the fourth quarter of 2014. In February 2014, the company received conditional approval by the United States Food and Drug Administration (“FDA”) for its initial veterinary oncology product.

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