Major shareholders and leaders inside a Malvern non-opioid pain therapeutics pharmaceutical company may show their hand concerning the firm’s future, now that Recro Pharma’s initial public offering lock-up period expired Wednesday.
According to Wikipedia, a lock-up period, also known as a lock in or lock out, is a predetermined amount of time following an initial public offering where large shareholders, such as company executives and investors representing considerable ownership, are restricted from selling their shares.
American Banking News reported Recro raised $30 million through its $8 IPO. Shares traded below $6 this week while Aegis analysts pegged the stock’s price target at $40, according to the article.
The company posted a greater loss than analysts expected last month, losing $0.36 per share.
Read more about the stock and the expiring lock-up period in American Banking News here.
