Retension Pharmaceuticals Prices Upsized $45M IPO at $12/Share
Summary
Retension Pharmaceuticals priced its upsized IPO at $12.00 per share, selling 3.75 million shares for gross proceeds of $45 million. The clinical-stage biotech, focused on hypertension and cardiovascular diseases, will use the funds to complete its Phase 2b trial of RTN-001 and prepare for Phase 3. Underwriters Leerink Partners, Guggenheim Securities, and Oppenheimer have a 30-day option for 562,500 additional shares. Trading begins October 9 on Nasdaq under RTSN, with closing expected October 13. The upsized deal and strong syndicate signal solid demand for a company with promising Phase 2 data in uncontrolled hypertension.
This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.