Versartis has launched its IPO after pricing its 6 million shares at $21 per share. The stock began trading Friday on the NASDAQ under the ticker symbol “VSAR.” Morgan Stanley and Citigroup are the lead underwriters. Based in Redwood City, Calif., Versartis is an endocrine-focused biopharmaceutical company focused on treating growth hormone deficiency. Its backers include Sofinnova Ventures, Aisling Capital, New Leaf Venture Partners and Advent Life Sciences.
REDWOOD CITY, Calif., March 20, 2014 (GLOBE NEWSWIRE) — Versartis, Inc., (Nasdaq:VSAR) an endocrine-focused biopharmaceutical company, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of $21 per share, before underwriting discounts and commissions. The shares are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol “VSAR” on March 21, 2014. In addition, Versartis has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock from Versartis at the initial public offering price. The offering is expected to close on March 26, 2014 subject to customary closing conditions.
Morgan Stanley and Citigroup are acting as joint book-running managers for the proposed offering. Cowen & Company is acting as lead manager and Canaccord Genuity is acting as co-manager.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on March 20, 2014.
The offering is being made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus relating to these securities will be filed with the SEC and may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, by email at email@example.com or by phone at (800) 831-9146.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Versartis, Inc.
Versartis, Inc. is an endocrine-focused biopharmaceutical company initially developing VRS-317, a novel, long-acting form of recombinant human growth hormone, for the treatment of growth hormone deficiency (GHD). VRS-317 is intended to reduce the burden of daily injection therapy by requiring significantly fewer injections, potentially improving compliance and therefore treatment outcomes. The company is currently completing a Phase 2a clinical trial of VRS-317 in children with GHD.