Foamix Pharmaceuticals (FOMX) Stock Pops After IPO Pricing

NEW YORK (TheStreet) -- Shares of Foamix Pharmaceuticals  (FOMX) surged 23.17% to $7.39 in morning trading Thursday after the company announced the pricing of its IPO.

The pharmaceutical company, which specializes in topical foams for dermatological applications, announced the offering of 6.7 million shares at $6 a share. The offering, which the company expects to close on Tuesday, contains a 30-day option to purchase up to 1,005,000 additional shares.

The stock opened at $8 on Thursday and spiked to a high of $11. More than 10.2 million shares had changed hands as of 10:52 a.m.

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FOMX Price Chart FOMX Price data by YCharts

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