PainReform Ltd, stocks slumped 15.64% on its first day of trading on September 1, 2020 and closed at $6.74, giving the company a market cap of approximately $59 million.
Israeli biotechnology company which developing therapies for post-operative pain relief raised $20 million by offering 2.5 million ADSs at $8, the low end of the proposed range of $8 to $10.
The Herzliya, Israel-based company was founded in 2007 and booked $35 million in sales for the 12 months ended December 31, 2019. The company plans to list on the Nasdaq Capital Market under the symbol “PRFX.” Maxim Group LLC and Joseph Gunnar are underwriters of the IPO.
The company engages Carter Ledyard& Milburn LLP as US Securities Counsel and Brightman Almagor Zohar & Co. as Independent Auditor.
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