Graybug Vision, a Phase 2 biotech developing long-acting formulations of drugs for ocular diseases, raised $90 million by offering 5.6 million shares at $16, the midpoint of the $15 to $17 range. The company originally filed to sell 4.7 million shares, before upsizing the offering by 20%.
The Redwood City, CA-based company plans to list on the Nasdaq under the symbol GRAY. SVB Leerink, Piper Sandler, Needham & Co. and Wedbush PacGrow acted as lead managers on the deal.
