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Oyster Point Pharma sets price range for Nasdaq IPO

Oyster Point Pharma Inc. set the price range of its Nasdaq IPO at between $16 and $18 per share.

The Princeton, N.J.-based pharmaceutical company plans to list 5 million of its common shares on the Nasdaq Global Market under the ticker symbol OYST.

J.P. Morgan Securities LLC, Cowen and Co. LLC and Piper Jaffray & Co. are serving as the underwriters for the IPO. As part of the offering, the underwriters have a 30-day option to buy up to an additional 750,000 shares.

Oyster Point plans to use the net proceeds from the offering to fund the clinical development of the company's nasal sprays OC-01 and OC-02.