Last night Minerva (NERV) priced their IPO deep in the hole at $6/share with Jefferies leading the deal along with decent co-managers Baird and JMP. The shares have opened for trading quietly and are changing hands at $6.16.
This is an early/mid-stage biotechnology company which means commercial success is far off but the areas the company is targeting (schizophrenia, depression, insomnia and Parkinson's Disease) are all large unmet medical needs.
Probably the biggest question here post-IPO is what program(s) will be cut or postponed since only 1 . . .