NuPathe Inc., a Conshohocken, Penn.-based drug developer focused on the central nervous system, has cut its IPO pricing terms from $14-$16 per share to $10 per share. It still plans to offer five million common shares.
NuPathe plans to trade on the Nasdaq under ticker symbol PATH, with Lazard Capital Markets and Leerink Swann serving as co-lead underwriters. It reports $11.3 million in 2009 revenue and a $15.6 million net loss.
NuPathe has raised $53 million in VC funding, from firms like Quaker BioVentures, Safeguard Scientifics, Battelle Ventures, Birchmere Ventures, S.R. One Ltd. www.nupathe.com