Retension Pharmaceuticals shares fell sharply in their trading debut after the clinical-stage biopharmaceutical company's upsized initial public offering was priced at the midpoint of expectations.
Shares of the Falls Church, Va., company were recently changing hands at $10.36, down nearly 14%, after opening at $10.
Retension sold 3.75 million shares at $12 apiece in the IPO, compared with prior plans to offer 3.3 million shares at between $11 and $13 each.
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