Vallon Pharmaceuticals (NASDAQ: VLON) has successfully completed its initial public offering of 2,250,000 shares at a price of $8.00 per share, generating gross proceeds of $18 million. The offering closed on February 12, 2021, following the stock's debut on the Nasdaq Capital Market on February 10, 2021. The company has granted underwriters a 45-day option to purchase an additional 337,500 shares. Vallon's focus lies in developing drugs to deter abuse in CNS disorders, with their lead product candidate, ADAIR, aimed at treating ADHD and narcolepsy.
Vallon Pharmaceuticals has announced the pricing of its IPO, offering 2,250,000 shares at $8.00 each, totaling $18 million in gross proceeds. The shares will trade on The Nasdaq Capital Market under the ticker symbol VLON starting February 10, 2021, with closure expected on February 12, 2021. The offering includes an additional 337,500 shares option for underwriters. Vallon focuses on developing abuse-deterrent medications for CNS disorders, with its lead candidate being a formulation for ADHD and narcolepsy.