Finance

Biotech New Lows: Akebia Therapeutics (NASDAQ:AKBA), Galmed Pharmaceuticals (NASDAQ:GLMD), Tetralogic Pharmaceuticals (NASDAQ:TLOG), Dipexium Pharmaceuticals (NASDAQ:DPRX)

Akebia Therapeutics Inc. (NASDAQ:AKBA) offered 5.9 million shares in its Thursday IPO at $17 a share, the high end of the stock’s expected price range. Among other therapeutics, the biopharma company is developing a once-daily oral therapy for patients with kidney disease. Akebia Therapeutics, Inc. (NASDAQ:AKBA) stock performance was -0.99% in last session and finished the day at $20.00. Traded volume was 219,904 million shares in the last session and the average volume of the stock remained 1.86 million shares.

Galmed Pharmaceuticals Ltd (NASDAQ:GLMD) today announced the closing of its initial public offering of 3,263,010 ordinary shares at a public offering price of $13.50 per share, which included 425,610 ordinary shares issued upon the exercise in full of the underwriters’ option to purchase additional ordinary shares to cover over-allotments. Galmed Pharmaceuticals Ltd. (NASDAQ:GLMD) dropped -3.69 percent to $11.53 yesterday on volume of 435.43 million shares. The intra-day range of the stock was $11.23 to $12.49.

TetraLogic Pharmaceuticals Corporation (NASDAQ:TLOG) announced that J. Kevin Buchi, President and Chief Executive Officer, is the recipient of the 2014 Frank Baldino Jr. CEO of the Year Award awarded by Pennsylvania Bio, the statewide life sciences industry trade association. Tetralogic Pharmaceuticals Corp (NASDAQ:TLOG)’s stock on Mar 25, 2014 reported a decrease of -4.55% to the closing price of $6.51. Its fifty two weeks range is $6.46 -$14.75. The total market capitalization recorded $145.01 million. The overall volume in the last trading session was 108,350 million shares. In its share capital, Tetralogic Pharmaceuticals Corp (NASDAQ:TLOG) has 19.28 million outstanding shares.

Dipexium Pharmaceuticals, Inc. (NASDAQ:DPRX) a late stage biopharmaceutical company developing Locilex™ (pexiganan acetate cream 1%), a proposed treatment for mild infections of diabetic foot ulcers, today announced the closing of its initial public offering of 3,162,500 shares of its common stock at a public offering price of $12.00 per share. On Tuesday, shares of Dipexium Pharmaceuticals, LLC (NASDAQ:DPRX) advanced 1.01% to close the day at $10.05.