Vital Therapies Inc. (Nasdaq: VTL) announced Wednesday evening the pricing of its initial public offering of 4.5 million shares of common stock at a price to the public of $12 per share.
The San Diego-based biotherapeutic company develops a cell-based therapy targeting the treatment of acute liver failure. The company will begin trading on the Nasdaq Global Market today, under the ticker symbol "VTL."
Vital Therapies has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock, according to the announcement. BofA Merrill Lynch and Credit Suisse Securities LLC are acting as joint book-running managers for the offering. William Blair & Company LLC and Canaccord Genuity Inc. are acting as co-managers.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on April 16.