ImaRx Prices IPO

ImaRx Therapeutics Inc., a Tucson, Ariz.-based drug company using nanotech therapies for stroke and cancer, raised $15 million via its IPO. The company priced 3 million common shares at $5 per share (down from original $6.50-$7.50 range), which gives it an initial market cap of approximately $50 million. ImaRx will trade on the Nasdaq under ticker symbol IMRX, while Maxim Group served as lead underwriter. Edison Moore Healthcare Ventures held a 4.8% pre-IPO ownership position. ImaRx had filed for a $75 million IPO last year, but later withdrew it due to “unfavorable market conditions.”