Shin Nippon's migraine treatment spinoff, Satsuma Pharmaceuticals, floated above its range to raise $82.5m in an offering that follows $86m of funding.

Satsuma Pharmaceuticals, a US-based migraine therapy developer backed by research services provider Shin Nippon Biomedical Laboratories, raised $82.5m in its initial public offering on Friday. The company issued 5.5 million shares on the Nasdaq Global Market priced at $15.50 each, above the IPO’s $14 to $15 range. They reached a peak of $19.90 before closing…

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