Foamix Pharmaceuticals (fomx) Stock Pops After Ipo Pricing

twocents@thestreet.com (Andrew Meola), The Street
Thu, 09/18/2014 - 7:56am

NEW YORK (TheStreet) -- Shares ofaFoamix Pharmaceuticalsa surged 23.17% to $7.39 in morning trading Thursday after the company announced the pricing of its IPO. The pharmaceutical company, which specializes in topical foams for dermatological applications, announced the offering of 6.7 million shares at $6 a share. The offering, which the company expects to close on Tuesday, contains aa30-day option to purchase up to 1,005,000 additional shares. The stock opened at $8 on Thursday and spiked to a high of $11.

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