Stock News Recap: Satsuma Pharmaceuticals, Inc. (Nasdaq: STSA),
Satsuma Pharmaceuticals, Inc. (Nasdaq: STSA), a clinical-stage biopharmaceutical company developing STS101 (dihydroergotamine (DHE) nasal powder) for the acute treatment of migraine, announced the pricing of its initial public offering of 5,500,000 shares of common stock at a public offering price of $15.00 per share, for gross proceeds of $82.5 million, before the underwriting discounts and commissions. All of the shares of common stock are being offered by Satsuma. The Company has also granted the underwriters a 30-day option to purchase from the Company an additional 825,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions. Satsuma’s common stock has been approved for listing on The Nasdaq Global Market and is expected to begin trading under the ticker symbol “STSA” on September 13, 2019. The offering is expected to close on September 17, 2019, subject to customary closing conditions.
Credit Suisse, SVB Leerink and Evercore ISI acted as joint book-running managers for the offering.
Christopher Pacheco has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years. After many years in the market, he dedicated all his time to write articles highlighting different financial problems.
Christopher Pacheco holds a postgraduate degree in Software Engineering from Canada. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Christopher is a share market expert, being personally invested for over 6 years. He believes the most valuable nugget of wisdom for new investors is a quote from Phillip Fisher. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
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