Before the Nasdaq stock market halted trades just after noon on Thursday, Regado Biosciences had been having a pretty good day.
The biopharmaceutical company’s shares, which had made their market debut on the Nasdaq market earlier in the day, were up about 20 percent. And the latest trade, recorded about 1:38 p.m., showed the stock up 21 percent, at $4.85. That valued the company at $87.3 million.
The jump in share price represented a bit of a comeback for Regado, which priced its initial public offering at $4, a dollar below its expected price. Possibly to offset the disappointing pricing, the drug maker’s underwriters increased the number of shares sold by 28 percent, to 10.75 million.
The company, which was founded in 2003, focuses on anti-clotting drugs for use in treating heart conditions.
Regado bears the distinction of being the only company to price its I.P.O. this week and the 18th this month, according to data from Renaissance Capital. It’s a little unusual to go public in August, given the generally lower trading volumes and Wall Street’s propensity to head for the beach during the final days of the summer season.
A representative for Regado had no immediate comment.
