Proteon Therapeutics (PRTO) IPO Opens Higher

Today's IPO for Proteon Therapeutics Inc. (NASDAQ: PRTO) opened for trading at $11.30 after pricing 6,110,000 shares of its common stock at a public offering price of $10.00 per share, which was below the expected $12-$14 range. The offering size was raised from 4,700,000 shares.

Stifel and JMP Securities are acting as joint book-running managers for the offering, and Baird and Oppenheimer & Co. are acting as co-managers for the offering.

Proteon Therapeutics Inc. is developing novel, first-in-class pharmaceuticals to address the medical needs of patients with kidney and vascular diseases. The company is headquartered in Waltham, Mass.

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