Trius Ends First Day Trading at $5 a Share
San Diego’s Trius Therapeutics (NASDAQ: TSRX), which is developing technology for making a new class of antibiotic compounds, ended the day as it began this morning—at its initial public offering price of $5 a share. Trius was forced to cut its price to $5 a share yesterday (from a range of $12 to $14 per share), and increased the size of its offering from 6 million to 10 million shares. The share price traded as high as $5.23 before slipping back on trading volume of more than 2.5 million shares. The company’s lead drug candidate targets a sometimes-fatal bacterial infection formally known as methicillin-resistant Staphylococcus aureus, or MRSA.