Contineum Therapeutics (NASDAQ:CTNM) stock is a hot topic among traders on Friday as they prepare for the clinical-stage biopharmaceutical company’s shares to go public today.
Let’s go over everything traders need to know about Contineum Therapeutics ahead of its initial public offering (IPO) later today!
CTNM Stock IPO Details
- First off, investors will note that Contineum Therapeutics shares will trade on the Nasdaq Exchange under the CTNM stock ticker.
- The IPO will price 6,875,000 shares of the company’s shares at $16 each.
- There’s also a 30-day option for underwriters to acquire another 1,031,250 shares at the IPO price.
- Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Stifel (NYSE:SF) and RBC Capital Markets are the joint book-running managers for the IPO.
- Contineum Therapeutics are expecting gross proceeds of $110 million from the IPO.
- The IPO on the Nasdaq Global Select Market starts today and will close on April 9.
- Contineum Therapeutics is focused on the development of novel, oral small-molecule therapies to treat neuroscience, inflammation and immunology indications with high unmet needs.
Investors will want to keep a close eye on CTNM stock when shares start trading today. It’s possible the shares could rally above their IPO price, or they might fall below it. No matter the case, it should be interesting to see how it performs once shares start trading.
There are even more stock market stories that traders need to know about on Friday!
Fortunately, we have all of the hottest stock market news for today ready to go! Among that is what has shares of Nutex Health (NASDAQ:NUTX), Semantix (NASDAQ:STIX) and DigiAsia (NASDAQ:FAAS) shares moving today. All of this news is ready to go down below!
More Friday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
