Menlo Therapeutics (MNLO) IPO Opens Up 21%

Today's IPO for Menlo Therapeutics Inc. (NASDAQ: MNLO) opened for trading at $20.50 after pricing its nitial public offering of 7,000,000 shares of common stock at a public offering price of $17.00 per share.

The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 1,050,000 shares of common stock at the initial public offering price, less the underwriting discount.

Jefferies LLC, Piper Jaffray & Co. and Guggenheim Securities, LLC are acting as joint book running managers for the proposed offering. JMP Securities is acting as the lead manager for this offering.

Menlo Therapeutics Inc. is a late-stage biopharmaceutical company focused on the development of serlopitant, a once-daily oral NK1 receptor antagonist, for the treatment of pruritus associated with various underlying dermatologic conditions and for refractory chronic cough. The company has initiated a broad clinical development program for serlopitant including Phase 2 studies for the treatment of pruritus associated with atopic dermatitis, pruritus associated with psoriasis, and refractory chronic cough, and expects to start Phase 3 trials for the treatment of pruritus associated with prurigo nodularis in the first half of 2018. Menlo Therapeutics has worldwide rights to serlopitant, excluding Japan where Menlo Therapeutics has licensed serlopitant to JT Torii.

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