Bellerophon Therapeutics Shares Tumble In Nasdaq Debut

(RTTNews) - Shares of Bellerophon Therapeutics LLC (BLPH) fell sharply in their trading debut on the NASDAQ Global Market Friday following an initial public offering.

The company priced its initial public offering of 5 million shares at a public offering price of $12.00 per share, which was below the previously estimated price range of $14.00 and $16.00 per share. The company had originally planned to offer 4 million shares.

All of the shares in the offering are being sold by Bellerophon. In addition, Bellerophon has granted the underwriters an 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 February 19.

Bellerophon Therapeutics shares are currently trading at $9.70 after trading as high as $10.25 and as low as $9.20 earlier in the session. The shares opened for trading at $9.61.