Disappointing Pricing for China Nuokang’s Nasdaq IPO

China Nuokang Bio-Pharmaceutical priced its IPO at $9, which was slightly below the expected range of $10-$12. When the shares began trading today, they fell further, dropping 56 cents to $8.44, a loss of about 6%. The company receives 94% of its revenues from a single product, the hemocoagulant Baqueting, which is derived from the venom of the pit viper. More details... Stock Symbol: (NSDQ: NKBP)