Today, the shares of Newron Pharmaceuticals S.p.A., a biopharmaceutical company based in Italy, were traded in the main market of the SWX Swiss Exchange for the first time. Last Friday, an issue price of CHF 55 was determined, which was at the upper end of the previously specified price range of CHF 45 to CHF 60. The opening price today on SWX was CHF 58. This corresponds to a market capitalisation of CHF 337.6. If, by the end of the first trading day, the company’s free-float capitalisation totals at least CHF 100 million, Newron will be included in both the SXI LIFE SCIENCES® and SXI Bio+Medtech® indices.
According to the listing prospectus, of the 5,820,106 outstanding registered shares, 2,147,606 or 36.9 % of all shares were placed with the public. If the option for an additional 322,141 shares is exercised (greenshoe), the free float may rise to 42.43 %.
Newron Pharmaceuticals S.p.A. is an Italian biopharmaceutical company focused on the discovery and development of small molecule drugs for the treatment of central nervous system (CNS) diseases. The clinical focus is on Parkinson's disease and pain. The company was established in 1999 as a spin-off from Pharmacia & Upjohn and is headquartered in Bresso, near Milan, Italy.
In September 2006, Newron Pharmaceuticals S.p.A. had a total of 32 employees. In its nine-month financial statements dated 30.09.2006, the company reported net revenues of EUR 0.106 million and a net loss of EUR 12.9 million.
