SteadyMed (STDY) IPO Prices at $8.50/Share, Well Below Expected Range

SteadyMed Ltd., (NASDAQ: STDY) announced the pricing of its initial public offering of 4,700,000 ordinary shares at a price to the public of $8.50 per share, below the expected $12-$14 range. The size of the offering was raised from 4,250,000 shares. SteadyMed's are expected to begin trading on The NASDAQ Global Market today under the symbol "STDY".

All of the ordinary shares are being offered by SteadyMed. In addition, SteadyMed has granted the underwriters a 30-day option to purchase up to an additional 705,000 ordinary shares.

Wells Fargo Securities, LLC and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. JMP Securities LLC is acting as lead manager.

SteadyMed Ltd. is a specialty pharmaceutical company focused on the development of drug products to treat orphan and high value diseases with unmet parenteral delivery needs. The company's lead candidate is Trevyent, a development stage drug product that utilizes SteadyMed's PatchPump technology to administer treprostinil, a vasodilatory prostacyclin analogue to treat pulmonary arterial hypertension. PatchPump is a proprietary, disposable, parenteral drug administration platform that is prefilled and preprogrammed at the site of manufacture. SteadyMed has offices in San Ramon, California and Rehovot, Israel.

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