The biotech company, which manufactures drug delivery devices used by Ear, Nose and Throat doctors, priced its initial public offering of 5 million shares at $11 a share, the low end of the expected $11 to $13 range. The offering, which the company expects to close on or around July 29, includes a 30-day option for underwriters to purchase up to an additional 750,000 shares.
The stock opened at $13.20 and hit a high of $13.65 as of 12:57 p.m., by which point more than 2.6 million shares had changed hands.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. XENT Price data by YCharts
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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