Labopharm's IPO opened at $8 a share for 11 million shares this morning and quickly bounced slightly higher. Labopharm expects to raise between $81 million and $93 million from the IPO. The money is being budgeted to advance once daily Tramadol and the company's experimental products. Labopharm has been developing drugs that use its proprietary controlled-release technology.
- read the report from StreetInsider.com
- here's the release