Urovant Sciences (UROV) IPO Opens Sharply Lower

Today's IPO for Urovant Sciences Ltd. (NASDAQ: UROV) opened for trading at $10.40 after pricing 10,000,000 common shares at a price to the public of $14.00 per share.

In addition, Urovant has granted the underwriters a 30-day option to purchase up to 1,500,000 additional common shares at the initial public offering price less the underwriting discounts and commissions.

J.P. Morgan, Jefferies and Cowen are acting as joint book-running managers for the offering.

Urovant is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for urologic conditions. Urovant's lead product candidate, vibegron, is an oral, once-daily, small molecule beta-3 agonist being evaluated in an international pivotal Phase 3 clinical trial for the treatment of overactive bladder. Urovant's second product candidate, hMaxi-K, is a novel gene therapy being developed for patients with overactive bladder who have failed oral pharmacological therapy.

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