Satsuma Pharma Opens Above IPO Price

Satsuma Pharma (NASDAQ:STSA) made its public debut Friday morning, opening at $19 after being priced in the range of $14-$15 per share.

Satsuma has listed its shares on the Nasdaq under the ticker symbol "STSA."

Satsuma Pharma IPO: What You Need To Know

Founded in June 2016, Satsuma is a clinical-stage biopharma company developing a novel therapeutic product for the acute treatment of migraines.

Its product candidate STS101 is a drug-device combination of a proprietary dry powder formulation of dihydroergotamine mesylate, or DHE, for quick and easy administration using a pre-filled, single-use, nasal delivery device.

Credit Suisse, SVB Leerink and Evercore are the underwriters for the offering.