Supernus Pharmaceuticals, a former Shire sub developing improved drug formulations for epilepsy and ADHD, lowered the proposed deal size for its upcoming IPO on Friday. The Rockville, MD-based company now plans to raise $55 million by offering 11 million shares at a price of $5. The company had previously filed to offer 5.8 million shares at a range of $12 to $14. At the midpoint of the revised range, Supernus Pharmaceuticals will raise -27% fewer proceeds than previously anticipated. Supernus Pharmaceuticals, which was founded in 2005, plans to list on the NASDAQ under the symbol SUPN. Citi and Piper Jaffray are the joint bookrunners on the deal.
