Nivalis Therapeutics Rises In IPO

Boulder-based Nivalis Therapeutics saw a successful IPO on Wednesday, rising as high as $17.84 per share in its first day of trading, closing at $14.92 in its first day of trading. The company, which had priced at $14.00 per share on Tuesday evening--at the midpoint of its initial estimate of $14.00 to $16.00 per share--selling 5.5 million shares of its common stock to the public. The company is now listed on the NASDAQ Global Market as NVLS. Nivalis is venture backed by Deerfield Management, Wellington Management, Tiger Partners, RA Capital Healthcare Fund, as well as others. The company got its start as N30 Pharma.