12:05 PM EDT, 10/29/2024 (MT Newswires) -- Polyrizon (PLRZ) shares fell in their Nasdaq trading debut on Tuesday after the development-stage biotech company priced its $4.2 million initial public offering.

The stock was down about 66% in recent trading after opening at $1.64.

Polyrizon priced its IPO of 958,903 units at a combined price of $4.38 per unit, with each unit each consisting of one share and three warrants to buy one share per warrant, with an initial exercise price of $4.38 per share.

Aegis Capital has a 45-day option to acquire up to 143,835 additional units. The offering is expected to close Wednesday.

Price: 1.47, Change: -2.91, Percent Change: -66.44