Agile Therapeutics, a biotech developing the first low-dose contraceptive patch, raised $55 million in a downsized IPO by offering 9.2 million shares at $6. The company had originally planned to raise $60 million by offering 4.6 million shares at $12 to $14 but revised its terms on Thursday. Additionally, insiders are now buying $25 million on the offering, up from $15 million. Agile Therapeutics plans to list on the NASDAQ under the symbol AGRX. RBC Capital Markets and William Blair acted as lead managers on the deal.
