Domo signs strategic collaboration agreement with AWS for AI solutions
Investing.com -- Nasus Pharma Ltd. (NYSE:NSRX) started trading on the NYSE American on Wednesday, with shares opening at $8.00, matching the company’s initial public offering price.
The clinical-stage pharmaceutical company, which focuses on developing innovative intranasal products for emergency medical conditions, raised $10 million in gross proceeds from the offering of 1,250,000 ordinary shares, before deducting underwriting discounts, commissions, and other offering expenses.
Nasus Pharma has granted the underwriters an option to purchase up to an additional 187,500 ordinary shares at the initial public offering price within 45 days from the date of the final prospectus to cover any over-allotment.
Laidlaw & Company (UK) Ltd. and Craft Capital Management LLC served as joint bookrunners for the offering.
The company plans to use the net proceeds to advance the development of its intranasal Epinephrine program, including manufacturing scale-up and additional Phase 2 studies. The remaining funds will be allocated to general and administrative corporate purposes, such as working capital and capital expenditures.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.