Shares of Tranzyme closed unchanged after the Durham drug-development company's initial public offering of stock.
The company sold 13.5 million shares at $4 each on Friday, raising about $48 million after expenses. That was after reducing the size of the deal to get it done.
In early trading today, the shares rose 6 cents, but ended the day flat. The stock began trading on the Nasdaq under the ticker symbol "TZYM."
The IPO is the first for a Triangle company since Cary-based SciQuest went public in September.
Tranzyme will use the money raised to pay for further clinical testing of experimental drugs to treat gastrointestinal problems.
Read a full report on Tranzyme's IPO here.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or
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