Ayala Pharmaceuticals (AYLA) IPO Opens Modestly Higher

Today's IPO for Ayala Pharmaceuticals, Inc. (NASDAQ: AYLA) opened for trading at $15.66 after pricing 3,666,667 shares of common stock at a public offering price of $15. per share.

In addition, Ayala has granted the underwriters a 30-day option to purchase up to an additional 550,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.

Citigroup and Jefferies are acting as the lead book-running managers for the offering. Oppenheimer & Co. and Raymond James are acting as the co-managers for the offering.

Ayala Pharmaceuticals is a clinical-stage oncology company focused on developing and commercializing small molecule therapeutics for patients suffering from rare and aggressive cancers, primarily in genetically defined patient populations.

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