NeurogesX Prices IPO

NeurogesX Inc., a San Carlos, Calif.-based drug company focused on pain management therapies, priced 4 million common shares at $11 per share ($13-$15 range), for an IPO take of approximately $44 million. Morgan Stanley served as lead underwriter. It began trading on the Nasdaq under ticker symbol NGSX, and closed down around 6.8% at $10.25 per share. NeurogesX had raised around $90 million in VC funding since 2000, from firms like ARCH Venture Partners (24.7% pre-IPO stake), Alta Partners (18.6%), Walden International (14.3%) Montreaux Equity Partners (10.2%) and Global Life Sciences Ventures (4.4%).