The company priced its initial public offering at $16 per share late yesterday, raising $150 million through the sale of 9.375 million shares, underwritten by Jefferies and other banks. Trading commenced this morning on the Nasdaq Global Select Market, with shares quickly climbing as investors responded positively to the ophthalmology-focused medical device firm's prospects in sustained drug delivery technologies. Volume exceeded 200,000 shares early in the session, reflecting strong debut interest amid a favorable biotech IPO environment, including recent successful offerings in the sector. This initial momentum built on pre-IPO buzz from backers like RA Capital, amplifying the price jump from the offer level.
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