Satsuma Pharmaceuticals, Inc.

Satsuma Pharmaceuticals, Inc. (STSA) priced its initial public offering on Sep 13, 2019 at $15.00 per share, within its $14.00–$16.00 range, raising $82.5M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $249.1M. Credit Suisse was lead-left underwriter, joined by Leerink Partners and Evercore ISI. Latham & Watkins advised the company and Cooley advised the underwriters.

Satsuma Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing STS101 for the acute treatment of migraine. STS101 is a drug-device combination pairing a dry-powder dihydroergotamine formulation with a pre-filled, single-use nasal delivery device, and has completed a Phase 1 trial in 42 healthy volunteers.

Status

IPO

Ticker

STSA

Exchange

Nasdaq Global Market

Priced

Sep 13, 2019

IPO price

$15.00

Price range

$14.00–$16.00

Raised

$82.5M

Market cap at IPO price

$249.1M

First filed

Aug 16, 2019

Underwriters

Credit Suisse, Leerink Partners and Evercore ISI

Company counsel

Latham & Watkins

Underwriters' counsel

Cooley

Sector

Biotech & pharma

Country / state

NC

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.