Principia Biopharma, which is developing oral small molecule therapies for pemphigus, immune thrombocytopenic purpura and MS, raised $106 million by offering 6.3 million shares at $17, the high end of the range of $15 to $17. Insiders intend to purchase up to $26 million of the IPO (25% of the deal).
Principia Biopharma plans to list on the Nasdaq under the symbol PRNB. BofA Merrill Lynch, Leerink Partners and Wells Fargo Securities acted as lead managers on the deal.
