Merrion Pharmaceuticals has slashed its estimated flotation price range on the US Nasdaq market to $6 to $7 per share from its earlier target of $10 to $12 each, according to an amended filing with US regulators.
The Dublin-based company is selling four million shares in the offering. It also intends to apply for a listing on Dublin's IEX market.
Merrion, which was set up in 2004, specialises in developing oral dosage forms of drugs that are difficult to absorb.
In November, Merrion said it had raised €8m in its latest funding round. The main investors included Dr Tony Ryan and company chairman Declan Ryan.
