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NEW YORK (TheStreet) -- Biopharmaceutical company Versartis(VSAR)closed up 47.62% to $31 on Friday, its first day of trading after the company's initial public offering.
The stock surged more than 50% to a high of $36.30 for the day. Nearly 6 million shares changed hands on Friday.
Versartis upsized its IPO and earned $126 million by selling 6 million shares at $21 a share, the high end of its range of $19 to $21 a share. The company had previously expected to sell 4.6 million shares at $16 to $19 a share.