|Post IPO Valuation|
Alcobra Pharmaceuticals Inc., which is developing a treatment for attention deficit hyperactivity disorder (ADHD) held its Nasdaq IPO last night (Israel time). Sources said that the company had obtained positive feedback during its road show. Just before the road show, the company expanded its prospectus from issuing 1.36 million share to 2.27 million shares.
Alcobra held the offering at $8 per share, raising a gross $25 million at a company value of $89 million. The company had hoped to raise the money at a share proce of between $10 and $12. It will be traded under the ticker “ADHD”.