Nivalis Therapeutics, which is developing a complementary small molecule therapy for cystic fibrosis, raised $77 million in an upsized IPO by offering 5.5 million shares at $14, the midpoint of the range of $13 to $15. The company originally planned to sell 4.3 million shares. Existing investors planned to buy $25 million on the IPO, representing 32% of the deal. Nivalis Therapeutics plans to list on the NASDAQ under the symbol NVLS. Nivalis Therapeutics initially filed confidentially on 2/13/2015. Cowen & Company and Stifel acted as lead managers on the deal.
