Catabasis Pharma Shares Surge In Nasdaq Debut

(RTTNews) - Shares of Catabasis Pharmaceuticals, Inc. (CATB) surged in their trading debut on the Nasdaq Global Market Thursday following the company's initial public offering.

Catabasis priced its IPO of 5 million shares at a public offering price of $12.00 per share, which is below the previously estimated price range of $13.00 to $15.00 per share.

In addition, Catabasis has granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock at the public offering price, less the underwriting discount.

The offering is expected to close on June 30.

Catabasis shares are currently trading at $13.00 after trading as high as $13.15 and as low as $12.25 earlier in the session.