Thursday, October 8, 2009

Omeros Drops In IPO Debut

Seattle-based biotech Omeros raised $68.2M in its IPO on the NASDAQ yesterday, but dropped under its IPO price in trading today. Omeros sold 6,820,000 shares of its common stock at $10.00 a share--towards the bottom of its offering range--netting the firm $68.2M before underwriting costs. The stock--listed as OMER--was trading around $8.39 in trading Thursday morning. The IPO was underwritten by Deutsche Bank Securities, Wedbush PacGrow Life Sciences, Canaccord Adams Inc., Needham & Company, LLC, Chicago Investment Group and National Securities.