Versartis Prices IPO At $21 Per Share

(RTTNews) - Versartis Inc, an endocrine-focused biopharmaceutical company, announced the pricing of its initial public offering of 6 million shares of its common stock at a public offering price of $21 per share, before underwriting discounts and commissions.

The shares are expected to begin trading on the NASDAQ Global Select Market under the ticker symbol "VSAR" on March 21, 2014.

In addition, Versartis has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock from Versartis at the initial public offering price.

The offering is expected to close on March 26, 2014 subject to customary closing conditions.

Morgan Stanley and Citigroup are acting as joint book-running managers for the proposed offering. Cowen & Company is acting as lead manager and Canaccord Genuity is acting as co-manager.